Barclays Capital purchases gold market-fixing seat

London-based investment bank Barclays Capital has purchased membership of the London gold market-fixing forum (LGMF) from NM Rothschild and Sons, the London-based bank that recently signalled its intention to leave the gold market.

The LGMF provides a benchmark price for gold that is used globally.

The withdrawal of NM Rothschild from the market forced the LGMF to introduce new fixing arrangements. Previously, twice-daily fixing meetings were held at the offices of the bank. This arrangement has been replaced by telephone fixes, with the chairman rotating between members annually. LGMF said it intends to introduce web-based commentary of the fixing later this year.

“Our decision to purchase the seat is a logical step for the development and growth of our precious metals business, and shows our continued commitment to the sector,” said Benoit de Vitry, head of commodities and emerging markets rates at Barclays Capital.

Barclays Capital launched an online base and precious metals trading platform in September last year.

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact or view our subscription options here:

You are currently unable to copy this content. Please contact to find out more.

You need to sign in to use this feature. If you don’t have a account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here