What is Gold Price Fixing? Process and Timing
The gold price benchmark provides a standardized global reference rate for trading and valuing gold in world markets. Because the spot price of gold fluctuates every second based on real-time supply, demand, and geopolitical factors, a fixed benchmark is necessary to create uniform pricing for contracts, bullion products, and institutional settlements. The internationally recognized benchmark is administered under the supervision of the London Bullion Market Association (LBMA).
When Is the Gold Price Fixed?
The LBMA Gold Price—formerly known as the “London Gold Fixing”—is established twice each business day in London. It is set at approximately 10:30 AM and 3:00 PM London time and published in U.S. Dollars (USD), Pound Sterling (GBP), and Euros (EUR). The process is managed electronically by ICE Benchmark Administration (IBA) under LBMA oversight.
Unlike spot trading, which updates continuously during market hours, these benchmark sessions establish a reference price used by refiners, jewellers, central banks, and institutional traders worldwide. Even though the gold market operates 24/7 across global exchanges, the London benchmark ensures consistency in contracts, ETFs, and derivative pricing.
Official benchmark data and historical prices can be accessed directly at:
Key Factors That Influence Gold Prices
Gold prices are shaped by a combination of economic, geopolitical, and industrial variables. While the benchmark provides structure, daily market fluctuations arise from the following influences:
- Supply and demand dynamics: Mining output, recycling trends, and jewelry consumption—especially in India and China—impact prices.
- Speculation and investor sentiment: Futures trading and ETF inflows can create rapid short-term volatility.
- Inflation and interest rates: Gold often serves as a hedge when real yields or fiat currencies decline.
- Central bank strategies: Reserve diversification and official gold purchases by monetary authorities affect global demand.
- IMF and policy frameworks: The International Monetary Fund (IMF) monitors global reserves and provides transparency on official gold holdings.
- Industrial and technology demand: Electronics, aerospace, and renewable-energy sectors utilize gold for precision applications.
- Jewelry and cultural demand: Seasonal buying—especially during festivals in Asia—drives consumption peaks.
- Geopolitical events: Wars, sanctions, or political instability often increase gold’s appeal as a safe-haven asset.
- Economic emergencies: During recessions or crises, investors tend to shift from risk assets toward gold.
Transparency and Verification
The benchmarks and influencing factors mentioned above are based on publicly available data from internationally recognized institutions, including the London Bullion Market Association (LBMA), ICE Benchmark Administration (IBA), and the International Monetary Fund (IMF). GoldPriceZ does not participate in or influence any price-setting activity and references these organizations solely for educational purposes.
Disclaimer: This page is intended for educational and informational use only. GoldPriceZ does not determine, publish, or certify any official benchmark or live rate. All pricing and procedural information is derived from publicly available, verified sources such as LBMA and IBA. Users should refer to these official institutions for the latest authoritative benchmark and market data. GoldPriceZ disclaims liability for any inaccuracies or changes made by third-party data providers.
Last Updated: 15 November 2025
Silver Purity/types:
Unlike gold, silver is typically not classified by karats. Instead, silver purity is usually expressed as a percentage or parts per thousand. The most common purities are:
- Fine Silver (99.9%): Used in investment-grade bullion, coins, and bars.
- Sterling Silver (92.5%): Common in jewelry, silverware, and decorative items.
- Coin Silver (90%): Previously used in coins, now less common.
- Other Alloys: Lower purity silver used in budget or industrial applications.
Silver purity is often marked with stamps like "999," "925," or "900" to indicate the purity level.
- About Silver Types (in Detail),- Methodologies, and References
Description of Weight Units:
| Weight Unit | Equivalent in Grams |
|---|---|
| Kilogram | 1000 |
| Baht | 15.244 |
| Tola | 11.664 |
| Vori (Bori) | 11.664 |
| Tael | 37.429 |
| Pennyweight | 1.555 |
| Pound | 453.592 |
| Mithqal | 4.688 |
| Ratti | 0.121 |
| Carat | 0.2 |
| Masha | 3.885 |
| Troy Ounce(Ounce) | 31.1035 |
Description for currency:
Select your preferred currency to view silver prices. Prices are available in major global currencies like USD, EUR, GBP, and more. Choosing the correct currency ensures you see accurate and up-to-date pricing based on the exchange rate for your location or preference.
Live Silver Price Chart:
Use the duration options to view silver price trends over different time periods. 'Today' shows the current day's price movements, while '7 Days,' 'Month,' and '30 Days' provide recent trends. 'YTD' (Year-to-Date) and '1 Year' offer a longer-term view. Select 'More' for additional timeframes and detailed analysis.
This performance section provides an overview of silver price trends. The Summary tab offers an at-a-glance view with color-coded trend indicators showing percentage changes across key time horizons.
The Amount tab displays absolute value changes in both USD (global benchmark) and local currency, along with exchange rate movements, enabling precise profit/loss calculations.
The Percent tab reveals relative growth rates, essential for comparing silver's performance against other assets and inflation.
The History tab provides anchor price points on specific dates, supporting technical analysis and investment strategy backtesting.
Together, these tabs offer investors, jewelers, and economists multidimensional insights into silver's behavior across timeframes and currency perspectives.
Live Silver Price Calculator:
This tool estimates silver values using live market rates. Enter your silver weight, select a measurement unit (grams, tolas, ounces, etc.), and choose any currency. Click "Calculate" for instant valuation based on current prices. You can also switch tabs to value gold or convert currencies. All calculations reflect real-time market data for accurate precious metal valuation.
About this timestamp
The time shown here indicates when the price data was last fetched from our server. It is not the exact moment of a retail sale or trade, and may differ slightly from jewellery shops or live trading platforms because of data provider timing and currency conversion.
For transparency, full details of how prices are calculated and updated are available in the Reference section. There you can see the data sources, update frequency, and notes on what is included or excluded.
Silver Price Comparison by Purity:
This tool compares live silver prices across different purity levels and weight units. Switch between tabs to see values per ounce, gram, tola, or select "More" for units like baht, tael, etc. Each table shows today's current, lowest, and highest prices for every purity type in your chosen currency. Use the dropdown filters to focus on specific purities, switch weight measurements, or convert values to any global currency.
Silver Market Price Tool
This section shows live silver pricing with bid/ask spreads and customization options. View real-time market rates for different purity levels using the top tabs. The table displays three key prices per gram:
1. Current Price: Latest market rate
2. Bid Price: What buyers offer
3. Ask Price: What sellers request
Adjust the spread percentage to see how dealer margins affect prices, or add labor costs for jewelry valuation. Use the dropdowns to switch between purity levels, weight units, or currencies for international comparisons.
Silver Quantity Calculator Guide
This tool calculates silver prices for specific quantities in Pakistani Rupees. Select a weight unit (grams, tolas, ounces) using the tabs, or choose other units like "baht", "tael", etc. from the "More" dropdown. The table instantly shows spot, buy, and sell prices for common quantities (1, 5, 10 units) and allows custom quantity entry.
Key features:
1. Custom Quantity: Enter any amount for instant valuation
2. Spread Adjustment: Modify dealer margin spreads
3. Labor Costs: Add manufacturing fees for jewelry valuation
4. Live Rates: All prices update in real-time based on market data
Use the dropdowns to change silver purity, weight units, or convert prices to other currencies.
Silver Price History
This section tracks silver's value over time. The table shows daily prices with percentage changes, highlighting market activity and closures.
Reference Information
The following information is about the primary data used in the above sections for transparency and trustworthiness. This section details the weight unit, purity, and currency. It also provides update times and data sources to ensure all information is fresh and accurate for decision-making.