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London gold fixing set for new administrator by year-end

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Published : July 30th, 2014
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Category : GoldWire

By Nicholas Larkin
Bloomberg News
Tuesday, July 29, 2014

LONDON -- The banks that conduct the century-old gold fixing and the London Bullion Market Association will seek proposals next month for a new administrator to run a revamped process for the benchmark by year-end.

The London Gold Market Fixing Ltd., which manages the procedure, and the LBMA will open a market consultation in late August and plan to announce a third-party administrator by the end of September, the association said in a statement today. The process will be open and not restricted to firms who pitched to run a mechanism that will replace the silver fixing on Aug. 15. ...

... For the remainder of the story:

http://www.bloomberg.com/news/2014-07-29/lond...set-for-new-...



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Chris Powell is the secretary of the Gold Anti-Trust Action Committee (GATA) which has been organized to advocate and undertake litigation against illegal collusion to control the price and supply of gold and related financial securities.
WebsiteSubscribe to his services
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