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  • Good Delivery

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LBMA Conference 2026
  • Market Standards

    As the independent authority for precious metals, we set standards that uphold trust in the global market.

    Market Overview

    • About Loco London
    • A Guide to the Loco London Precious Metals Market
    • Training and Education

    Our Standards

    • Market Standards
    • Global Precious Metals Code
    • Good Delivery
    • Responsible Sourcing
    • Incident Review Process

    Regulation Resources

    • Financial Regulation
    • Due Diligence Regulation
    • REACH
    • Review Process Case Studies

    HQLA

    • Gold and HQLA: Correcting Misleading Online Information

    LBMA Precious Metals Market Report

    Read about the latest quarter in the precious metals market.

    Discover more
  • Membership

    LBMA Membership demonstrates a commitment to uphold global standards within the precious metals market.

    Overview

    • About Membership
    • Current Members
    • Rules for Members

    Become a Member

    • How to Join
    • Membership Eligibility
    • Membership Benefits
    • LBMA Subscriber
    • Membership FAQs

    Already a member?

    Log in to stay updated with LBMA Member news and events.

    Discover more
  • Good Delivery

    The standard trusted around the world, Good Delivery guarantees metal quality in the market. LBMA owns and manages the Good Delivery Lists for both gold and silver.

    Overview

    • About Good Delivery
    • Good Delivery Rules and Governance
    • Good Delivery FAQs

    Lists

    • Good Delivery Current List Data
    • Good Delivery Former List Data
    • Russian Good Delivery Bars Information

    Application Process

    • How to apply for Good Delivery accreditation

    Advancing Standards

    • Proactive Monitoring
    • Proficiency Testing Scheme

    Resources

    • Reference Materials
    • Vault Operators Training
    • Visual Guide
    • Physical Market Guidelines
    • Past Assaying and Refining Conferences
    • Good Delivery Newsletters

    GBI

    • Gold Bar Security Features
    • Gold Bar Integrity Ecosystem

    Newsletter

    Read our latest GDL Newsletter.

    Discover more
  • Responsible Sourcing

    All LBMA Good Delivery List Refiners must adhere to our Responsible Sourcing Programme. With annual independent auditing and public reporting, the Programme builds global demand for responsible sourcing.

    Overview

    • Responsible Sourcing
    • Approved Assurance Providers Overview
    • Approved Service Providers
    • LBMA's ASM Initiative

    Guidance & Tools

    • Guidance Documents
    • Refiners Toolkit

    Resources

    • International Bullion Centre Recommendations
    • Introductory Training Module
    • Responsible Sourcing FAQs

    Reporting

    • Country of Origin Data
    • Sustainability and Responsible Sourcing Reports
    • Responsible Sourcing Newsletters
    • Review Process Case Studies
    • LBMA Position on the North Mara Mine Claim

    Newsletter

    Read our latest Responsible Sourcing Newsletter.

    Discover more

    Sourcing Advisory

    Improve your responsible sourcing processes by reading our Sourcing Advisory, focused on Brazil, the Democratic Republic of Congo, Sudan, United Arab Emirates, and Zimbabwe.

    Discover more
  • Pricing & Data

    View information about LBMA prices and data.

    Overview

    • About LBMA Daily Auction Prices
    • LBMA Gold Price
    • LBMA Silver Price
    • LBMA Platinum and Palladium Price
    • Clearing
    • Vaulting

    Data

    • LBMA Precious Metal Prices
    • LBMA Daily Trade Reporting Data
    • Clearing Data
    • London Vault Data
    • Value Dates
    • Country of Origin Data

    A Guide to the Loco London Precious Metals Market

    A comprehensive overview of how the Loco London Market works.

    Discover more
  • News

    Read the latest news, publications and resources which outline our key initiatives.

    News and Resources

    • Newsroom
    • LBMA Resources
    • Alchemist
    • Publications
    • LBMA Annual Precious Metals Forecast Survey
    • Centenary of the LBMA Gold Price
    • Press Page

    Alchemist 119

    Read the latest issue of the Alchemist.

    Discover more
  • Events

    Read the latest news, upcoming events and resources.

    Events and Webinars

    • Upcoming Events
    • Past Events
    • Newsroom
    • Webinar Series

    LBMA/LPPM Global Precious Metals Conference 2026

    Join us for another year of high-profile speakers, fascinating panel sessions, and unrivalled networking opportunities.

    Discover more
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Alchemist Issue 88

March 2018

Download PDF

Bullish on Gold

Monetary Policy in an Era of Political Uncertainty

Silver Linings?

Bullish on Gold

By Michael Bedford

Monetary Policy in an Era of Political Uncertainty

By Jagjit Chadha

Silver Linings?

By Dr Jonathan Butler

Regulation Update

Previous issues of the Alchemist

View all issues

Issue 101

May 2021

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Issue 100

March 2021

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Issue 99

November 2020

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