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One of the two dominant venues for gold price formation, the over-the-counter wholesale London Gold Market, trades from 8:00 am to 4:30 pm London time with daily LBMA Gold Price auctions at 10:30 am and 3:00 pm.
Market Standards. Loco London Precious Metals Market. In the Loco London Market, trade is carried out directly between two counterparties, without the involvement of an exchange – enabling transactions to precisely meet a client’s requirements. LBMA is at the heart of this market.
Prices and Data. LBMA Gold Price. The LBMA Gold Price is administered independently by ICE Benchmark Administration (IBA).
The LBMA Gold and Silver Price benchmarks are the global benchmark prices for unallocated gold and silver delivered in London, and are administered by ICE Benchmark Administration Limited.
Loco London gold market is quoted in U.S. dollars per troy ounce 99.99 % pure gold and with delivery in London. Chinese Gold and Silver Exchange Society operates one of the largest gold markets in the world.
Displayed electronic liquidity from day one – The LME’s market-making partners deliver deep and tight executable prices across the gold and silver forward curves. Loco London delivery – Gold and silver bullion physically held in London allows for the efficient settlement between LMEprecious and OTC market deliveries.
How the LBMA Gold and Silver Prices Work. IBA operates electronic auctions for spot, unallocated loco London gold and silver, providing a market-based platform for buyers and sellers to trade. The auctions are run at 10:30 and 15:00 London time for gold and at 12:00 London time for silver.
