What We do

LBMA comprises and represents the key players and their clients in the London Bullion Market.

We have more than 140 members including refiners, fabricators, traders, storage and security carriers. We represent them through our maintenance of and publication of the Good Delivery List which sets the benchmark for gold and silver metal bars across the world.

Origins of LBMA

LBMA was established in 1987 by the Bank of England, which at this time was the bullion market's regulator. LBMA took over the roles previously carried out by two separate organisations, the London Gold Market and Silver Market, whose origins date back to the mid-nineteenth century.

The on-going work of the Association covers setting and monitoring refining standards, creating trading documentation and fostering the development of good trading practices. The LBMA's main role is the maintenance and publication of the Good Delivery Lists for gold and silver, which are universally acknowledged as the de facto standard of quality assured and assayed bullion. See the  LBMA Brochure for further information.

Since its inception in 2000, LBMA's annual Precious Metals Conference has been the premier professional forum for the world's precious metals market. Our next Conference will take place in Boston on 28 - 30 October, 2018.

LBMA also produces publications, most significantly the Alchemist, LBMA's quarterly journal, which contains articles of general interest to all the bullion market participants, and observers. It is available free of charge from LBMA Executive.

The LBMA Good Delivery List is widely recognised as representing the de facto standard for the quality of gold and silver bars.

Good Delivery List

In the refining industry, accreditation on the LBMA Good Delivery List is widely recognised as the benchmark standard for the quality of gold and silver bars, due to the stringent criteria that an applicant must satisfy. Regular proactive monitoring is undertaken of refiners on the List, which further enhances the reputation of refiners listed. The List is used by many precious metals exchanges around the world to define in whole, or in part, the refiners whose gold and silver bars are accepted in their own markets.

The London Bullion Market

The London Bullion market has a long and colourful history which precedes the formation of LBMA. For more information on the history of the London Bullion market, the role of LBMA and other key participants within it, refer to the Useful Links section 'About the Bullion Market'.