The London Fixing determines the daily prices of gold, silver, platinum, and palladium through fixings conducted by the London Bullion Market Association and the London Platinum and Palladium Market. The fixings occur twice daily for gold and once daily for silver, platinum, and palladium. Most reputable precious metals dealers, including Manhattan Gold & Silver, base transactions on the London Fixing prices.

1. The London FixingThe London Fixing
Who Decides Precious Metal Prices?Who Decides Precious Metal Prices?
Manhattan Gold & Silver | 45 W 47th Street | New York, NY 10036 | 212-398-1454

2. The Daily London FixingThe Daily London Fixing
• Most reputable gold dealers (including
precious metals refiners, like MGS) base their
transactions on the London fixing.
• The London fixing is a daily event that sets
(fixes) the monetary value of gold and other
precious metals for the day.
– It is widely considered the world’s foremost
authority on the value of precious metals.
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3. 2013 © Manhattan Gold & Silver2013 © Manhattan Gold & Silver
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When are Gold & SilverWhen are Gold & Silver
Prices Set?Prices Set?
• The London fixing for gold prices occurs
twice per day.
– At 10:30 p.m. (London time)
– At 3 p.m. (London time)
• The second fixing is done to correspond with the
opening of the US market.
• The fixing for silver prices only occurs once
per day.
– At 12 p.m. (London Time)

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When are Platinum & PalladiumWhen are Platinum & Palladium
Prices Set?Prices Set?
• Unlike gold and silver, the platinum price fix
and palladium price fix both occur at the same
time.
– At 9:45 a.m. (London time)
– At 2 p.m. (London time)
• MGS bases its payout prices on the p.m.
fixings because they correspond with the
opening of the US market.

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Who Runs the London Fixing?Who Runs the London Fixing?
• The London fixing is decided by two
organizations.
– The London Bullion Market Association (LBMA –
decides the prices for gold and silver)
– The London Platinum and Palladium Market
(LPPM – decides the prices for platinum and
palladium)

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Who Runs the London Fixing?Who Runs the London Fixing?
• LBMA
– ScotiaMocatta (part of
the Bank of Nova Scotia)
– Barclays Bank Plc
– Deutsche Bank AG
– HSBC Bank USA, NA
– Société Générale
• LPPM
– ScotiaMocatta (part of
the Bank of Nova Scotia)
– Deutsche Bank AG
– HSBC Bank USA, NA
The organizations that decide the London fixing are
made up of the following members:

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The London FixingThe London Fixing
vs. Spot Pricesvs. Spot Prices
• While the London fixing represents the “official”
values for the day, spot prices will evolve from that
based on the discretion of precious metals dealers.
• Spot prices can fluctuate based on speculation, world
events, and the activity of other markets.
– Spot prices can vary from market to market all over the
world.
• At MGS, we only payout based on the London fixing,
which means you get consistent, clear-cut value for
your lot.

8. About MGSAbout MGS
Manhattan Gold & Silver | 45 W 47th Street | New York, NY 10036 | 212-398-1454
• Manhattan Gold & Silver (MGS) is a precious metals refiner that has been
based in Manhattan’s historic Diamond District since 1985. We are a B2B
company that buys and recycles precious metal scraps that accumulate in
other businesses.
• We serve:
– Jewelers
– Pawnbrokers
– Dentists
– The industrial sector
– Antique dealers
– Machinists
– And more!
• MGS also creates charts, calculators, and other online tools for our
customers to use.
– Try our Precious Metals Prices app, which lets you monitor the real-time precious metals
market situation from anywhere, right from your iPhone.

9. Recycle your PreciousRecycle your Precious
Metals for ProfitMetals for Profit
• MGS accepts gold, silver, platinum, and palladium.
• Payouts are based on the London Fixing.
• Up to 98% payout (among the highest in the US)
– Up to 98.5% for gold brought in for hand testing.
• Not in NYC? Ship us your precious metals using
our Ship & Sell service. Ship & Sell offers:
– Same day wired payment (once lot is received)
– Discounted, insured shipping
– Payout calculator
Manhattan Gold & Silver | 45 W 47th Street | New York, NY 10036 | 212-398-1454

10. Connect with MGSConnect with MGS
• For amazing facts, history, and news, read our
gold and precious metals blog.
• Join the conversation about precious metals on the
MGS Facebook wall.
• Follow gold, silver, and other precious metal trends on the
MGS Twitter account.
• Circle MGS on Google+ to hear about our latest updates,
contests, and more.
• If you do business with us, connect with us on the
MGS LinkedIn page.
• To see precious metal refinement in action, visit the
MGS YouTube channel.
Manhattan Gold & Silver | 45 W 47th Street | New York, NY 10036 | 212-398-1454