Welcome to the spring newsletter from our Good Delivery team, keeping you updated on what’s going on and what’s in store for the Good Delivery List (GDL) system.

GDL strives to innovate to remain the leading global standard. Here are the top strategic outcomes the team will focus on this year.

2024 Physical Market Enhancements

  • Developing a solution to handle/process Good Delivery Refiner and Custodian data.
  • Continuous improvement in Physical Services and Good Delivery application efficiency.
  • Regularly enhance market standards by successfully defining the use of non-destructive testing, specifically relating to porosity, and developing a guidance.
  • The development of first-class technical materials to promote best practices for those working within the Good Delivery physical market.

Recycled Gold

LBMA is working closely with other industry organisations and experts as part of the ISO process to ensure that the referenced definition of Recycled Gold is fit for purpose. This will address the challenges associated with the true Origin of Recycled Gold.

Visual Guide

To provide consistent guidance to evaluate the quality of the bars received in London, the Visual Guide, which details defects and imperfections in Good Delivery bars, is having a refresh.

If you would like to contribute to this project and be involved, please reach out to Hannah Coakley at Hannah.Coakley@lbma.org.uk.

Physical Market Weighing Guidelines

The GDL team is excited to announce the release of its physical market Weighing Guidelines.

These guidelines are intended to provide information and assistance to those working in the Good Delivery physical market, with a particular focus on electronic weighing and non-destructive testing.

Generally speaking, an electronic balance is one of the most precise and accurate measuring devices in any laboratory or vault. The latest generation of electronic balances can report mass with up to seven significant digits and determine the mass of large gold bars with a readability of 0.0003 tr oz.

This Guide provides insight into how electronic balances work, the factors that can impact mass measurement, and the best practices for measuring the mass of precious metal bars.

GDL Rules Mandatory Requirement Reminder: Inclusion of a Two-Digit Month Stamp in Bar Markings

Attention, Refiners!

Please be reminded that, effective from March 31, 2023, all Refiners submitting the last bar number used on the last day of each month must include the two-digit month stamp in their bar markings.

This is a mandatory requirement that must be complied with to ensure consistency and accuracy across the industry.

The Physical Services team is completing a review of historic bar serial numbers and refiners may be contacted to verify where necessary.

Please contact Laura Smith at gdl@lbma.org.uk for any further clarification and assistance.

Assaying & Refining Conference 2025

Save the date for LBMA's Assaying and Refining Conference, scheduled to take place in March 2025 in London.

We are pleased to announce our two keynote speakers for 2025!