By James Titcomb
The Telegraph
The mechanism for setting the gold price needs to be radically redrawn to restore faith in the market, the industry body for the precious metal has said.
Regulators are set to take the first steps towards a root-and-branch reform of the gold fix, amid widespread claims of rigging in the market.
The World Gold Council will on Monday hold a summit of banks, watchdogs and mining companies to review the gold fix, which was last week heavily criticised by influential MPs.
Natalie Dempster, managing director for central banks and public policy at the WGC, said the price-setting process needs a comprehensive re-working.