gold fixing: meaning, definition, pronunciation and examples
C1/C2Formal, Technical, Financial
Quick answer
What does “gold fixing” mean?
A daily process or meeting to establish a benchmark price for gold, based on supply and demand.
Audio
Pronunciation
Definition
Meaning and Definition
A daily process or meeting to establish a benchmark price for gold, based on supply and demand.
The historical process of setting a standard gold price; more broadly, any institutionalized price-setting mechanism for a precious metal, now often replaced by electronic benchmarks.
Dialectal Variation
British vs American Usage
Differences
Both UK and US use the term identically. The London Gold Fixing was historically the primary global benchmark, but terminology is consistent.
Connotations
In the UK, strongly associated with the London Bullion Market Association (LBMA). In the US, associated with global finance and commodity markets.
Frequency
Slightly higher frequency in UK financial media due to historical precedent, but standard in both regions.
Grammar
How to Use “gold fixing” in a Sentence
The [noun: committee/association] conducted the gold fixing.The price was set at the gold fixing.Traders awaited the outcome of the gold fixing.Vocabulary
Collocations
Examples
Examples of “gold fixing” in a Sentence
verb
British English
- The committee will gold-fix the price at 10 a.m.
- They have gold-fixed the benchmark for decades.
American English
- The association gold-fixes the price daily.
- They gold-fixed the rate before the market opened.
adverb
British English
- [Not standardly used as an adverb]
American English
- [Not standardly used as an adverb]
adjective
British English
- The gold-fixing process is now electronic.
- He attended the gold-fixing meeting.
American English
- The gold-fixing mechanism was scrutinized.
- She studied gold-fixing protocols.
Usage
Meaning in Context
Business
Central in reports on commodity markets, financial news, and historical analyses of gold trading.
Academic
Used in economics, finance, and history papers discussing commodity price mechanisms.
Everyday
Virtually never used in everyday conversation outside financial contexts.
Technical
Precise term in bullion trading, finance, and market regulation.
Vocabulary
Synonyms of “gold fixing”
Strong
Neutral
Weak
Vocabulary
Antonyms of “gold fixing”
Watch out
Common Mistakes When Using “gold fixing”
- Using 'gold fixing' to refer to repairing gold jewellery.
- Assuming it is a current, active process (largely historical post-2015).
- Confusing it with 'gold standard' (a monetary system).
FAQ
Frequently Asked Questions
The traditional London Gold Fixing (or Gold Fix) ended in 2015. It was replaced by the LBMA Gold Price, an electronic, auction-based benchmark.
Historically, it was conducted by representatives from five major bullion banks (e.g., Barclays, HSBC) who would 'fix' a price where buy and sell orders were balanced.
Because 'fix' can colloquially mean to manipulate or rig something unfairly. While intended to be a neutral benchmark-setting process, later scandals in financial 'fixing' (like LIBOR) tainted the term's perception.
Yes, in financial jargon, one can say 'to gold-fix' (e.g., 'The committee gold-fixes the price'), but it is a highly specialized usage not found in general English.
A daily process or meeting to establish a benchmark price for gold, based on supply and demand.
Gold fixing is usually formal, technical, financial in register.
Gold fixing: in British English it is pronounced /ɡəʊld ˈfɪksɪŋ/, and in American English it is pronounced /ɡoʊld ˈfɪksɪŋ/. Tap the audio buttons above to hear it.
Phrases
Idioms & Phrases
- “[No common idioms for this specific technical term]”
Learning
Memory Aids
Mnemonic
Think of 'fixing' a price, like 'fixing' a race – it's an agreed-upon standard set by experts, not an accident.
Conceptual Metaphor
MARKET PRICE IS A MEASUREMENT (requiring calibration/fixing).
Practice
Quiz
What does 'gold fixing' specifically refer to?