AIG International Limited Quit Gold Market & London Fix
AIG International Limited, part of American International Group Inc (NYSE:AIG - News), will no longer be a London Bullion Market Association (LBMA) market maker in gold and silver, the LBMA said on Tuesday 1st June 2004. They will remain as members, and requested the reclassification.
This follows shortly after N.M. Rothschild withdrew as market makers and member of the gold fixing, and leaves eight market makers.
Then There Were Eight
The remaining market makers include members of the London gold fix -- which sets the price of the metal twice daily -- the Bank of NovaScotia, Deutsche Bank AG (XETRA:DBKGN.DE - News), HSBC Bank (NYSE:HBA_pe - News) USA and Societe Generale (Paris:SOGN.PA - News). Barclays Capital will be the fifth fixing member as it purchased Rothschild's seat earlier this week.
The non-fixing market makers are J. Aron, a unit of Goldman Sachs (NYSE:GS - News), J.P. Morgan, and UBS.
London gold fix prices can be found on the site of the LBMA, the London Bullion Market Association.
Gold Price Future - Up or Down?
Update 4th June 2001
Gold Bar Stack