January 27, 2026

International Bullion Centre Recommendations: Introducing the Refreshed Engagement Strategy

As gold prices rise to historic levels, illicit flows and market distortions are also increasing. This creates new risks for the global precious metals market.  

 

That’s why LBMA is reinvigorating its focus on its International Bullion Centre (IBC) engagement strategy, first introduced in 2020. IBCs have a critical role in curbing the global trade of illicit gold. Strengthening standards across these key trading hubs is essential to maintain trust, improve transparency, and address emerging supply chain risks. 

 

Our refreshed campaign reintroduces the five original IBC recommendations, which remain fundamental to advancing global market integrity: 

 

  1. Effective scrutiny and verification of local and regional supply chains: Centres must have visibility of local and regional supply chains and put in place controls to support this. 

  1. Effective regulation of local and regional supply chains: Implement stringent rules governing local and regional bullion activities. 

  1. Effective enforcement powers: Government follow-up and investigation is essential to have an effective framework. 

  1. Effective co-operation with local, regional and international organisations: Public sector recognition provides International Bullion Centres with an opportunity to receive important support for plans to ensure Responsible Sourcing.  

  1. Develop ASM specific guidance to support and further legitimise ASM supply: ASM counterparties are particularly vulnerable to adverse impacts and serious abuses associated with the extraction, transport, trade, handling and export of bullion. Marginalising the ASM sector not only impacts the most vulnerable counterparties, it also increases the risk of illicit gold infiltrating legitimate supply chains as recycled material. 

 

These principles continue to guide our strategy as we work closely with governments, regulators and industry to raise the bar for responsible sourcing worldwide. 

Read more about LBMA's International Bullion Centre Recommendations