Just like the spot price published by other sources (for instance Reuters or Bloomberg) it represents the standard of many wholesale quotes, and – crucially – it signifies the typical of those quotes' mid-factors. The price is determined on British isles Functioning weekdays at 3pm London time for gold https://financefeeds.com/%f0%9f%9a%80-if-bitcoin-hits-150k-these-5-cryptos-could-300x/