LONDON, 31 March 2015 – Professional German banking journal Die Bank today carries a full-length article from BullionVault operations executive Steffen Grosshauser, explaining why and how the world's key gold price benchmark, the London Gold Fix, is changing.
With a paid circulation of 6,000 copies per month, Die Bank targets decision-making executives at Germany's financial institutions.
Its publisher, Bank Verlag, is a subsidiary of the Federal Association of German Banks (Bundesverband deutscher Banken) and provides information and services to private and corporate customers.
Writing exclusively for Die Bank's April edition, "London has dominated world gold trading since the mid-18th century, and it remains the central storage and dealing location today," says Steffen.
"The twice-daily Gold Fix offers a unique moment of deep liquidity, with demand and supply from traders across the world brought together to find the single price which does the most business.
"But because that price is also used to 'benchmark' other deals, as well valuing as inventories and consumer products, regulatory pressure has forced big changes on the 100-year old Fixing process."
Die Bank subscribers can read Steffen's article in full, in German, in the April edition:
