March 04, 2024

LBMA London Gold Price Reaches New All Time High

The LBMA London gold price hit new highs today, 4 March, 2024: $2,083.15 at the AM auction, and $2,098.05 at the PM auction.

The price at today’s AM auction exceeded the previous high of $2,078.40 per troy ounce reached in the PM auction on 28 December, 2023. Gold started 2024 at $2,074.90.

“Yet again gold reinforces its diversification appeal with the new high reached today,” said Ruth Crowell, CEO, LBMA.

The yellow metal is currently performing even better than recently forecast by analysts in this year’s LBMA Annual Precious Metals Forecast Survey, whose average forecast for gold was $2,059.

The first London gold price auction, the formal, globally recognised price – now known as the LBMA Gold Price – took place on September 12, 1919.