wholesale bracelet jewelry quotes Is London gold quoted by 5 Golden Merchants

atlanta ga jewelry diamond rings wholesalers factory The world's five major gold merchants refer to the five pricing gold banks in the London gold market.

The gold market in London has a long history. As early as the beginning of the 19th century, London was the center of world gold refining, sales and exchange. In 1919, the London Gold Market began to implement a daily pricing system, twice a day. The price is the most important gold price in the world. It has been affected to the transactions of the gold market in New York and Hong Kong. Gold prices are standard, and then fluctuate up and down according to their respective supply and demand. At the same time, the price of gold in London is also the benchmark price involving gold transactions and treaties.

The gold pricing in London is in the "Gold Room" -n -in -Lochill headquarters in London, UK. From September 12, 1919, the representative of the five major gold banks in London started the "Gold House" for the first time, and began to formulate the daily gold price of the London gold market. This system continued to today. The five gold banks formulate twice a day, respectively at 10:30 am and 3 pm. As a pricing host, the market transaction stopped for a while before the pricing. At this time, the gold merchants first suspended the quotation. The chief representative of the company was set up a proper opening price based on the New York market price after the London market closed the day after the closing of the London market the night before. The remaining four company representatives were sitting around the "Golden House" and immediately reported the opening price to the trading room of their respective companies, and the trading rooms of each company immediately traded at this price. The transfer was called to its customers and presented the price to the computer system terminal in the trading room via Reuters. When receiving the ordering business, each representative will add all the transactions together to see if it is bought or sold, or the buying and selling will be offset. Then the data information will be told to the chief representative of Loher to the chief representative adjust the price. If the opening price is too high, there is no buyer on the market, and the chief representative will reduce the price of gold; if the opening price is too low, the gold price will be raised until the seller appears. Price transactions set new prices in such a supply and demand relationship. At the same time, in the "Golden House", each company represents a British flag on the table, and it was vertical at the beginning. In the process of gold pricing, as long as there is a company's flag erected on the table, it means that there is still a new gold transaction order in the market, and the chief representative of Luohill cannot end the pricing. Only when the five -sided flags in the "Golden House" are put down together, it means that there is no new buyer and seller in the market, and the order of ordering business will be announced by the representative of Lohill. the deal price. The length of the pricing depends on the supply and demand of the market. The shorter is 1 minute and the length can reach about 1 hour. After that, the new price will soon be passed on to traders around the world.

At present, the four major pricing gold banks in the London gold market are: Lohill International Investment Bank (N M

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