LBMA and the London Bullion Market
ABOUT LBMA
The London Bullion Market Association (LBMA) is the global authority defining standards for the trading of physical gold and silver.
It establishes the framework for:
- responsible sourcing
- quality and purity standards
- compliance and due diligence
- accreditation of refiners and vaults
The London Bullion Market represents the world’s largest over-the-counter (OTC) marketplace for physical bullion, where banks, refiners, bullion dealers and institutional participants trade directly under internationally recognised standards.
Transactions are typically based on LBMA Good Delivery bars, which comply with strict requirements in terms of weight, purity, origin and responsible sourcing. These bars circulate within approved vaulting systems, ensuring integrity, traceability and market confidence.
The LBMA also publishes the official LBMA Gold Price benchmark twice daily (10:30 and 15:00 London time), widely used as the global reference for pricing and settlement of gold transactions.
Market Standards
LBMA standards represent the primary reference for the international precious metals market.
They provide:
- globally recognised pricing benchmarks
- standardised quality specifications
- verified sourcing and compliance frameworks
- trusted infrastructure for institutional trading
Within this context, all professional gold transactions are aligned with internationally accepted market practices and pricing structures.