The London Gold Fixing is a process that determines the price of gold in the global market. It occurs twice daily, at 10:30 AM and 3:00 PM London time, and involves a group of banks that trade gold. These banks communicate to establish a consensus price, which reflects the current supply and demand for gold. This price-setting mechanism has been used since the early 20th century and is crucial for various stakeholders, including investors, jewelers, and central banks. The London Bullion Market Association oversees the process, ensuring transparency and reliability in gold pricing.