Afternoon Fixing means the fixing of the price for one troy ounce gold stated in USD, such fixing taking place during the opening days of the London Bullion Market (or a succeeding market on which market participants in the London market for trading with gold trade in gold) at 16:00 (CET) according to the rules of the London Bullion Market Association (or a succeeding organization representing market participants in the London market for trading with gold). In case the fixing of one troy ounce gold in USD according to the rules of the London Bullion Market Association (or a succeeding organization representing the market participants in the London market for trading with gold) takes place at a time other than mentioned above, the conclusion of the price fixing at this other time shall be the time for the afternoon fixing.
Examples of Afternoon Fixing in a sentence
In the event that there is no H&H Noon Price for silver, London Afternoon Fixing Price for gold, platinum or palladium or Rhodium Index Price on a particular day, the last established H&H Noon Price for silver, London Afternoon Fixing Price for gold, platinum or palladium or Rhodium Index Price, as applicable, shall apply.
Payment of the purchase price of gold, platinum or palladium will be made on the value date and shall be determined by the London Afternoon Fixing Price with respect to such metal on such day plus a premium per ounce determined by Scotiabank at the time of such payment, in each case times the number of ounces of gold, platinum or palladium, as applicable that is the subject of the relevant purchase transaction.