London Bullion Market


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London Bullion Market

An over-the-counter market for the trade of gold and silver. One must be a member of the London Bullion Market Association in order to trade on this market. While the Bank of England may regulate the market, the LBMA operates primarily as a self-regulatory organization.
References in periodicals archive ?
The London Bullion Market Association (LBMA) said it would lobby for gold, silver, platinum and palladium to be considered highly liquid assets.
According to the London Bullion Market Association, Wednesday, the price of gold stood at $1,331 per ounce on the day, up 3.53 percent from its new-year figure.
Since then, it has been expanding exponentially in portfolio and team size, while working in partnership with an international team of experts, and in accordance with the guidelines of the London Bullion Market Association, to give expert advice and professional physical metals service to a global clientele.
He served as a member of the Management Committee of the London Bullion Market Association and the London Platinum and Palladium Market.
Guidance on other markets covered by the NIPS Code has been superseded by the UK Money Markets Code published in April 2017, endorsed by the Bank of Englands Money Markets Committee (MMC); and by the Global Precious Metals Code published in May 2017 by the London Bullion Market Association (LBMA).
Intercontinental Exchange (NYSE:ICE), a operator of global exchanges and clearing houses and provider of data and listings services, has announced that ICE Benchmark Administration (IBA) expects to begin administering the benchmark and operating the Auction underlying the London Bullion Market Association (LBMA) Silver Price from 25 September 2017, subject to regulatory approval, the company said.
INTL's memberships include, but are not limited to, the London Bullion Market Association, the London Platinum and Palladium Market, Singapore Bullion Market Association and now, the Dubai Gold & Commodities Exchange.
By Friday on the London Bullion Market, the price of gold dropped to $1,164.60 an ounce from $1,191.40 a week earlier.
ICE Benchmark Administration (IBA), a subsidiary of ICE, was chosen to provide a physically settled, electronic and tradable auction for what will become the LBMA (London Bullion Market Association) Gold Price.
L'Azurde is also the first company in the Middle East to obtain accreditation from the London Bullion Market Association and has been included on the LBMA Good Delivery List since June 1, 2010.
"This is one measure that the central bank has taken to go through this difficult period for commercial banks and most importantly to boost liquidity," an unnamed source told (http://www.reuters.com/article/2014/11/11/us-russia-gold-cenbank-exclusive-idUSKCN0IV0FJ20141111) Reuters at the London Bullion Market Association in Peru.
At about 0705 GMT on the London Bullion Market, gold dived to $1,167.41 per ounce, striking the lowest point since late July 2010.

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