The London Bullion Market
The global bullion market is based on expertise and liquidity in London
The world’s trade in bullion is based in London with a global membership and client base. The first gold rush of 1697 brought gold from Brazil into London, with the subsequent setting up of a purpose built vault by the Bank of England. Further gold rushes followed in California, Australia and South Africa which added to the stocks of gold in London.
Refineries were set up to process this gold and were typically located close to the Bank of England. In 1750 the Bank of England set up the London Good Delivery List for gold, which formally recognised those refineries who produced gold bars to the required standard. Today, the LBMA own and manage the Good Delivery Lists for both gold (and silver).
Pricing, trading, vaulting, clearing and settlement in the London bullion market. Read More
Criteria of the list, testing, reference materials and the responsible sourcing programme. Read More
Pricing and Statistics
The role of LBMA Market Makers in gold and silver pricing, GOFO and clearing figures. Read More
Delivery in settlement of Loco London transactions in the Over The Counter market. Read More
Five LBMA members offer clearing services across an electronic system. Read More
Custodian services in London offering quality assurance and confidentiality. Read More
Interactive photographic timeline of the London bullion market from inception onwards. Read More
Including definitions, standard documentation and value dates for the current year. Read More