What does FIB mean in terms of international gold trading?

In the context of international gold trading, FIB stands for "First In, Best" or "First In, Best Dressed." It refers to a trading principle where the first buyer or seller to make a trade has priority over subsequent transactions. This can impact pricing and availability, as it incentivizes timely execution in the fast-paced gold market. Understanding FIB dynamics can help traders optimize their positions and strategies.