Gold price reform to focus on improved transparency, governance controls

``To ensure that the current gold-fixing mechanism remains fit for purpose going forward, Norman says that, firstly, the way in which the process is governed needs to be changed and, secondly, wider transparency with regard to the fixing process beyond just interested parties and participants must be ensured for "quite literally, anyone who wants to observe the process in real time". "Currently, the London Gold Fix is overseen and operated by the same banks that participate in the fix and I think the governance and participation should be separate," he says.''