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).

Market Overview

Pricing, trading, vaulting, clearing and settlement in the London bullion market. Read More

Good Delivery

Criteria of the list, testing, reference materials and the responsible sourcing programme. Read More

Prices and Data

View LBMA data sets including daily precious metals prices, vault holdings and clearing statistics 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

Market History

Interactive photographic timeline of the London bullion market from inception onwards. Read More

Market Tools

Including definitions, standard documentation and value dates for the current year. Read More