Precious Metals Management: FAQs: What is the London fix price?

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What is the London fix price?

The London Platinum & Palladium Market (LPPM) Fixing (Pt and Pd only), sometimes referred to as the "London Fix", is set each day at 09:45 (am fix) and 14:00 (pm fix) London time. It serves as a price reference point and is published widely. The fix is a bid price for Good Delivery ingot or plate, located in vaults in Switzerland. Hence it is the price which LPPM members would be prepared to pay for platinum and palladium in the form of plate or ingot deposited in a Swiss vault. Customers can instruct dealers to purchase metal at the fix price prior to the fix but they will incur charges for brokerage, conversion and transportation. Buyers do not have the benefit of knowing what the price is before they purchase.