GOFO

Since July 1989, twelve market makers have contributed their rates for lending gold (against US dollars) to the GOFO page on Reuters and at 10am a mean is calculated automatically giving the market, in effect, a gold LIBOR (London Interbank Offered Rate). In 1997 a second page 'GOFO‘ was added providing logical data which allows the user to apply the rates to other applications such as spreadsheets and charts. Reuters LBMA07 gives a full list of contributor codes. See also Gold Forward Rate Agreement, Gold Leasing, Markets/Reuters Codes.