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India questions London gold benchmark

IBJA raises concerns about LBMA's price fixing mechanism, says it doesn't match realistic prices in India

Gold up 6.7% in Jan on renewed prospect as safe asset

Indiahassaiditissettingitsowngoldstandard,beingamongthelargestconsumersofgoldhistorically. TheIndianBullion&Jewellers’Associationdeclaresopeningandclosinggoldpricesdailybasedonwhichsovereigngoldbondsarepriced.TheLondonBullionMarketAssociationfixesgold’sopeningandclosingpricesinternationally. AddressingaseminarinMumbai,IBJAPresidentMohitKambojsaidtheLondonBullionMarketAssociationquotesdidnotmatchpricesinIndia.RuthCrowell,chiefexecutiveofficeroftheLondonBullionMarketAssociation,reactedto ...