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Gold price-setting: technology takes over from a century of tradition

The LBMA Gold Price that will start running on Friday will make the US$18 trillion global market more transparent

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Thursday was the last day that traders at four banks agreed by phone twice-daily prices used by miners to central banks to deal and value bullion. Gold will be the last precious metal to drop the London fixings after silver, platinum and palladium made way for electronic auctions last year.

London

ALMOST a century of tradition will disappear from the gold market as technology takes over.

Thursday was the last day that traders at...

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