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Twice for Gold Spot Fixation

Gold may become the most favorite metal of people. This aurum has already been valuable metal since the first time it was found. The shine which is reflected by its color has made people in love with gold. In every big occasion, people wear gold to show their status in society. The more they wear gold, the higher their status in society.

But, have you ever wondered about how to determine gold price? Actually, there are five institutions which have privilege to determine the value of gold. These five institutions are called as group of five bank and they are placed in London to determine gold spot. This group of five banks consists of Scotia-Mocatta, Barclays-Capital to replace NM Rothschild and Son, Deutsche Bank, HSBC, and Societe Generale to replace Johnson Matthey and CSFB. Usually, price of gold will be fixed twice a day at 10:30 GMT and 15:00 GMT. The spot gold is fixed by telephone as Rothschild withdrew from gold trading. Since participants cannot raise the white flag by phone, they will say the word “flag” if they want to register a pause of the determination of gold prices.

If you want to learn more about how to determine a value of gold, you are welcome to visit Goldcoinsgain.com.

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