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Gold AM/PM Fixing
The Gold AM/PM Fixing is a benchmark pricing mechanism used in the London gold market to set the daily price of gold. It takes place twice a day, in the morning (AM Fix) and afternoon (PM Fix), providing a reference point for the value of gold that is widely used in the global precious metals industry.
Here's how the process works:
Morning Fix (AM Fix): This occurs at 2.30 p.m. (UAE time). Representatives from five major bullion banks (currently Barclays, HSBC, Société Générale, Bank of Nova Scotia, and JP Morgan) participate and discuss current market conditions, including supply and demand factors, geopolitical events, and other relevant information. Based on this discussion, they collectively decide on the opening price for gold for the day.
Afternoon Fix (PM Fix): This takes place at 7.00 p.m. (UAE time). It involves the same process as the morning fix, with the same five banks participating. They consider updated information and decide on the closing price for gold.
The bullion banks will trade at the London Gold Fix on their behalf and for their customers who have placed limited orders. Before its announcement, the Gold Fix price is unknown. The Gold Fix is the price at which all participating banks' gross gold buy and sell orders match.
Trading Process for Gold AM/PM Fixing:
Client Order Placement
Clients interested in placing orders in AM/PM Fix prices can do so by reaching out to our Dealing Room - 043562888.
Order Timings
(Winter Timings)
AM Fix Time – 14:30 (order placing time - Until 13:30).
PM Fix Time – 19:00 (order placing time - Until 18:00).
No orders received after order placing times will be accepted.
Above mentioned are as per Dubai Standard Time.
Trade Execution
Once the fixed prices are updated, trade will be booked in the client's account. During this time, the client will not be able to access the Trading Platform.
Symbol
The trading symbol for Gold Fixing is 'GOLD.Fix.'
Post-Trade Handling
After the trade is executed, the 'GOLD.Fix' symbol behaves like a regular Gold Cash product. The client can close this transaction through the trading platform whenever he wishes.
Commission Structure
The commission structure for Gold AM/PM Fixing will remain the same as per Gold Cash.
Margins
The margin rate for the GOLD.Fix product is 3%.
If you have additional inquiries or need further information, please don't hesitate to contact the Client Services team, and we will be happy to assist.
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Losses can exceed your deposits
Ready to Invest?
Explore a new trading experience with
Century Trader App
Losses can exceed your deposits
Regulated by SCA
Century Financial Consultancy LLC
Reach us:
-
Dubai
6th Floor, Building 4, Emaar Square,
Downtown Dubai, P.O. Box 65777,
Dubai, United Arab Emirates -
Abu Dhabi
Office 3014, 30th Floor
Tamouh Tower, Building 12, Marina Square,
Al Reem Island, Abu Dhabi - +971 (4) 356 2800
- info@century.ae
Disclaimer: Trading in financial products carries risk. Trading in leveraged Over-The-Counter (OTC) Derivative products (including Contracts for Difference (CFDs) and spot foreign exchange contracts) involves a significant risk of loss which can exceed deposits and may not be suitable for all investors. OTC Derivative products / CFDs are complex financial instruments that do not confer any claim or right to the underlying financial instrument. Transactions in these instruments are very risky, and you should trade only with the capital you can afford to lose. Before deciding to trade on these products, you should consider your investment objectives, risk tolerance and your level of experience. Accordingly, you should ensure that you understand the risks involved and seek independent advice from professionals, if necessary.
Century Financial Consultancy LLC (CFC) is duly licensed and regulated by the Securities and Commodities Authority of UAE (SCA) under license numbers 20200000028 and, 20200000081 to practice the activities of Trading broker in the international markets, Trading broker of the OTC derivatives and currencies in the spot market, Introduction, Financial Consultation and Financial Analysis, and Promotion. CFC is a Limited Liability Company incorporated under the laws of UAE and registered with the Department of Economic Development of Dubai (registration number 768189). CFC has its registered office at 601, Level 6, Building no. 4, Emaar Square, Downtown, Dubai, UAE, PO Box 65777.
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