LBMA News

LBMA-i Trade Reporting

In the last issue of the Alchemist, we reported that the 12-week moving average (for the period to 7 July 2019) for gold was 160.1 million ounces. The weekly numbers continue to grow and the latest 12-week moving average (for the period to 15 September 2019) is now 180 million ounces.

What the data is important

LBMA-i market data makes it possible for market participants to gauge the size, shape and liquidity of the OTC market as represented by LBMA members.

It also helps support LBMA’s dialogue with regulators on such matters as NSFR, where we are working closely with key stakeholders to gain a full exemption for precious metals and clearing.

The chart shows the weekly average volume of gold trade reporting data for the 12-week period to 15 September, 2019.

Redefining LBMA

As part of its three-year plan, LBMA is working with a brand specialist agency, LIDA, to enhance its communications strategy. The project will assist LBMA in shaping its key messages and its value proposition as effectively as possible.

The goal will be to ensure that LBMA can provide the best service to all stakeholders and engage the wider audience in the positive work that is being done in the market. We recently invited members to provide comments and feedback, and we would like to thank you all for doing so, as it has proved invaluable. We are expecting to receive the conclusions of the review before the end of the year.

Responsible Sourcing – Introductory Training Module

LBMA together with the Responsible Minerals Initiative (RMI) and the Responsible Jewellery Council (RJC) have developed an introductory training module focused on the OECD Due Diligence Guidance for Responsible Supply Chains of Minerals from Conflict-Affected and High-Risk Areas. You can find the Training module in the media centre on our website (under webinars).

2019 LBMA Charitable Donations

LBMA would like to invite members to nominate charities that could benefit from the annual fund that LBMA sets aside each year for charitable donations, particularly those that members may be directly associated with. LBMA usually splits the fund between two or more charities. Please send your nominations by 15 November to aelred.connelly@lbma.org.uk

Join the LBMA Price Auctions

The Gold Price celebrates its 100th birthday this year and we have already held a number of events to celebrate the occasion, with the black-tie dinner on 3 December still to come. Back in 1919, there were just five participants in the auction, but since IBA became the independent administrator in 2015, the number has trebled to 15 participants. As we look to the next 100 years of the Gold Price, LBMA would encourage any members or Associates to join the auctions, using the contact details below.

• Gold or silver price auctions, ICE Benchmark Administration: IBA@theice.com or +44 (0)20 7429 7100, or
• Platinum and palladium auctions, LME: market.access@lme.com or +44 (0)20 7113 8888. 53 Associates.

103 Accredited Refiners

We now have 103 refiners on the Good Delivery Lists, with 69 listed for gold, 83 listed for silver and 49 refiners on both lists.

Gold and Silver Held in London Vaults

As at the end of May 2019, there were 7,627 tonnes of gold valued at $317.7 billion and 35,835 tonnes of silver valued at $16.7 billion. This equates to approximately 610,130 gold bars and 1,194,487 silver bars

LBMA Members

We currently have 142 member companies – 86 Full Members (including 12 Market-Making Members and 12 Affiliates), three Exchange Affiliates and 53 Associates