||The price of gold is generally determined by the supply and demand of gold bullion in the global market.
The actual price is 'fixed' twice a day by the London Bullion Market Association (LMBA). Five members from International banks provide the benchmark with which gold and its products are sold and bought at throughout the worlds markets.
The price fixing is based on information relating to the supply and demand of gold. This is determined by how many individuals, central banks and governments are buying gold and how many sellers there are of this precious metal. The London Gold Fixing occurs at 10.30 and 15.00 GMT.