The matter of fact is that if you see from the historical background of gold prices, you will find several standards fix the price of gold. There are Scotia-Mocatta, and part of Bank of Nova Scotia, Barclays Capital, HSBC, Deutsche Bank, and society general. Thus, if we back to the past, when the city office if NM Rothschild & Sons determine gold price, May 5^th, 2004 the gold spot fixing occurred via telephone.

In short, the fixing of gold price happened in 12 September 1919. The major system uses telephone. In determining spot gold the participant also find fixing price by using telephone.

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