LBMA - London Bullion Market Association
The LBMA is the prestigious and internationally accepted standard for gold and silver bullion, based in the City of London.
This trade association’s members comprise what is known as the London Good Delivery List, which is the “who’s who” of the world’s bullion refineries. The multiple roles played by the LBMA are vital to the coordination, communication and maintenance of sound standards and bullion trading practices throughout the global bullion markets. The LBMA conscientiously refine and define bullion bar standards for its member refineries. It is also the industry standard portal for quoted bullion prices, which are accepted worldwide. To achieve this latter function, the LBMA establish and publish a “Price Fixing” for gold and silver every business day.
THE LONDON GOLD AND SILVER FIXINGS
These “fixings” are an open process where buy and sell orders are offset until satisfied, thus establishing an acceptable median price or “fix”. These gold and silver Fix figures are then published internationally and accepted as benchmarks for the precious metals industry.
GOLD FIX
The Gold fixing process first began in 1919. Today it is conducted twice every business day, by telephone at approximately 10.30am (AM FIX) and again at 3pm (PM FIX). The price established or “fixed” by this process is then published shortly thereafter. There are five Gold Fixings Members that participate in this process. They are:
Bank of Nova Scotia-Scotia Mocatta
Barclays Bank
Deutsche Bank
HSBC Bank (USA)
Societe Generale
SILVER FIX
London silver fixing began in 1897. The silver fixing is conducted once every business day by telephone at 12 noon, and the results published shortly thereafter. Three banks settle the Silver Fix:
Bank of Nova Scotia-Scotia Mocatta
Deutsche Bank
HSBC Bank (USA)
The LBMA is the prestigious and internationally accepted standard for gold and silver bullion, based in the City of London.
This trade association’s members comprise what is known as the London Good Delivery List, which is the “who’s who” of the world’s bullion refineries. The multiple roles played by the LBMA are vital to the coordination, communication and maintenance of sound standards and bullion trading practices throughout the global bullion markets. The LBMA conscientiously refine and define bullion bar standards for its member refineries. It is also the industry standard portal for quoted bullion prices, which are accepted worldwide. To achieve this latter function, the LBMA establish and publish a “Price Fixing” for gold and silver every business day.
THE LONDON GOLD AND SILVER FIXINGS
These “fixings” are an open process where buy and sell orders are offset until satisfied, thus establishing an acceptable median price or “fix”. These gold and silver Fix figures are then published internationally and accepted as benchmarks for the precious metals industry.
GOLD FIX
The Gold fixing process first began in 1919. Today it is conducted twice every business day, by telephone at approximately 10.30am (AM FIX) and again at 3pm (PM FIX). The price established or “fixed” by this process is then published shortly thereafter. There are five Gold Fixings Members that participate in this process. They are:
Bank of Nova Scotia-Scotia Mocatta
Barclays Bank
Deutsche Bank
HSBC Bank (USA)
Societe Generale
SILVER FIX
London silver fixing began in 1897. The silver fixing is conducted once every business day by telephone at 12 noon, and the results published shortly thereafter. Three banks settle the Silver Fix:
Bank of Nova Scotia-Scotia Mocatta
Deutsche Bank
HSBC Bank (USA)