{"id":4981,"date":"2014-07-07T13:22:30","date_gmt":"2014-07-07T13:22:30","guid":{"rendered":"http:\/\/juniorminingnews.com\/?p=4981"},"modified":"2014-07-07T13:22:30","modified_gmt":"2014-07-07T13:22:30","slug":"thorough-reform-of-gold-fix-needed-says-world-gold-council","status":"publish","type":"post","link":"https:\/\/juniorminingnews.com\/?p=4981","title":{"rendered":"Thorough reform of gold fix needed, says World Gold Council"},"content":{"rendered":"<p><strong>By James Titcomb<\/strong><br \/>\n<em>The Telegraph<\/em><\/p>\n<p><img decoding=\"async\" loading=\"lazy\" class=\"alignright size-full wp-image-2220\" src=\"http:\/\/juniorminingnews.com\/wp-content\/uploads\/2013\/05\/gold-etf.jpg\" alt=\"gold-etf\" width=\"111\" height=\"117\" data-id=\"2220\" \/>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.<\/p>\n<p>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.<\/p>\n<p>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.<\/p>\n<p>Natalie Dempster, managing director for central banks and public policy at the WGC, said the price-setting process needs a comprehensive re-working.<\/p>\n<p><a href=\"http:\/\/www.telegraph.co.uk\/finance\/newsbysector\/banksandfinance\/10946694\/Financial-Conduct-Authority-says-no-evidence-of-gold-price-rigging.html\" target=\"_blank\"><strong>Continue reading . . .<\/strong><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>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.<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center 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