International Gold 04
International Gold 04 is a London bullion market price benchmark for gold. It is used as a reference price for physical gold transactions around the world. The benchmark is set twice a day, at 10:30 AM and 3:00 PM London time, by a committee of five gold market participants.
The committee members are:
* Bank of China
* Barclays
* Goldman Sachs
* HSBC
* Societe Generale
The committee members use a variety of factors to set the benchmark, including the price of gold in other markets, the supply and demand for gold, and the strength of the US dollar.
International Gold 04 is the most widely used gold price benchmark in the world. It is used by banks, hedge funds, and other financial institutions to trade gold. It is also used by jewelers and other businesses that buy and sell gold.
The benchmark is important because it provides a transparent and reliable reference price for gold. This allows market participants to trade gold with confidence, knowing that they are getting a fair price.
International Gold 04 is a key part of the gold market. It provides a benchmark for gold prices and helps to ensure that the gold market is fair and efficient.
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