London’s century-old process for fixing gold prices, tainted by a rigging scandal and attacked by critics as old-fashioned, goes under the spotlight this week in key talks aimed at modernising the process.
Analysts said that the market price of gold, which is driven by
investment and jewellery demand, could climb as a result of an overhaul.
Buyers and sellers of the precious metal will meet in London on
Monday to discuss the setting of the global benchmark, which affects the
flow of billions of dollars worldwide every day.