In the last couple of weeks, we’ve noticed the variance of the gold Fixing price and the open market price. In the past, the two tended to dovetail giving the appearance of synchronicity. But in the last week, open market prices have tried to take the gold price down only to be pulled up by the price established at the London gold Fixing. There is a structural change happening in the market, bringing the relevance of the physical market to a far more important pricing role that it has had before. As with other markets, it is the small amounts of gold sought after in the open markets –to top-up unforeseen needs, as opposed to the amounts directly contracted with suppliers that dictates the gold price. With these alterations, that pattern is beginning to change. Why?