Historically, the original
members of the London gold market acted as brokers. Today they are usually principals
dealing on their own account, except at the fixings
when they again adopt a broker’s role, charging customers a commission, or brokerage,
for their services. In Switzerland, Premex operates as a broker for the main
Swiss banks.
Broker
The intermediary or middle-man
operating between buyers and sellers of gold, who charges a brokerage fee, or
commission, for his services.