Question

    Which of the following is not a major gold trading

    center?
    A New York Correct Answer Incorrect Answer
    B London Correct Answer Incorrect Answer
    C Mumbai Correct Answer Incorrect Answer
    D Shanghai Correct Answer Incorrect Answer
    E All are major gold trading centres Correct Answer Incorrect Answer

    Solution

    Mumbai is not a major gold trading center. The major gold trading centers are New York, London, and Shanghai. London is the largest gold trading center in the world, followed by New York and Shanghai. The price of gold is largely determined by the London Bullion Market Association (LBMA), which sets the benchmark price for gold twice daily.

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