Glossary

London fixing

Gold is not traded on the LME.
Its price is determined for each transaction between market participants.
The financial institutions in the London Bullion Market Association (LBMA) agree a standard price for gold based on these transactions and publish it on the morning and afternoon of each trading day. This "London fixing" price is the benchmark for trading in gold.

Simulation of unit conversion

Unit conversion table

toz g kg
1 31.1 0.0311
0.0321 1 0.001
32.15 1000 1
lb g kg
1 454 0.454
0.0022 1 0.001
2.205 1000 1
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