LONDON, 20 March 2015 – BullionVault's head of research, Adrian Ash, is quoted tonight by the Wall Street Journal online after today's launch of the new global gold price benchmark, the LBMA Gold Price.
With independent administrator ICE Benchmark Administration Limited saying that "it's very hard to satisfy senior [banking] management that the [new] rules are very well understood," a total of 6 banks were direct participants in today's new electronic auction, aggregating their client and house orders to find the one single price which cleared the most business across the world's wholesale gold market.
"That shows a real commitment on their part to making this market," the WSJ quotes Adrian.
Looking ahead, he adds, "Six is great; more would be better."
Wall Street Journal subscribers can read the full report – syndicated widely through News International and Dow Jones Newswires – at the WSJ here:
