Lesson 1 of 3Market Mechanics·Advanced
The LBMA and the London market
The invisible center of the global gold trade.
7 min read
London is the center of the physical gold market. The LBMA (London Bullion Market Association) sets the standards for Good Delivery bars — the 400-ounce bars that clear through vaults holding thousands of tonnes of metal.
Why London
History, banking infrastructure, and the concentration of vault capacity. Almost every institutional gold transaction touches London somewhere.
The LBMA price
The twice-daily LBMA Gold Price is the global benchmark used to value the vast majority of physical gold contracts, ETFs, and central bank reserves.
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