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Conference

Register Now for the LBMA/LPPM Global Precious Metals Conference 2025

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Precious Metals Forecast Survey 2025

LBMA Reports: Spotlight on North American Gold & Silver Refining

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GDL Newsletter

GDL Newsletter: April 2025

The April edition of the GDL Newsletter says goodbye and welcome to Referee Working Group members, provides updates on the success that was the 2025 Assaying & Refining Conference as well as the GBI Database, and much more.

Regulation

LBMA Statement on EU Conflict Minerals Regulation Assessment Outcome

The European Commission confirms that, whilst Responsible Gold Guidance version 9 will not be recognised as having achieved full alignment, there have been improvements in a number of key assessment areas from version 8.

Data

LBMA Precious Metals Market Report: Q1 2025

Read the latest LBMA Precious Metals Market Report, which covers the period of the first quarter of 2025.

Good Delivery List

Umicore SA Business Unit Precious Metals Refining (Umicore) - Incident Review Process Invoked

The Incident Review Process (IRP) has been invoked to review matters that have been raised during the assurance process of Umicore SA Business Unit Precious Metals Refining (Umicore).

Data

London Gold and Silver Vault Data for March 2025

Read about the latest gold and silver stocks held in London vaults for March 2025, another notable month for vault data.

Gold

Gold as a Level 1 High Quality Liquid Asset

David Gornall (LBMA Consultant) and Edel Tully (Director of Financial Services, LBMA) make their case for gold as a level 1 High Quality Liquid Asset, in collaboration with World Gold Council. Read more in their SUERF Policy Brief.
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Clearing Data

Daily average transferred for February 2025

Gold $57.9 bn

Silver $9.0 bn

London Vault Holdings

End March 2025

Gold 8,488t

Silver 22,127t

LBMA Trade Data

12 week moving average value of trades for the period ending 11 April 2025

Gold $738.6 bn

Silver $87.5 bn

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March 2025

Issue 116

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Global Economy

Precious Metals and Trump 2.0: A Time of Elevated Uncertainty

By Dr Jonathan Butler

Head of Business Development & Strategy, Mitsubishi Corporation

Gold

Confessions of a (Possibly Reformed) Gold Sceptic

By Robert Armstrong

US Financial Commentator, Financial Times

Events

"Coulda Sworn It Was Judgement Day..." Gold in the 21st Century: First Quarter Review

By Shelly Ford

Alchemist Editor and Digital Content Manager, LBMA
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LBMA Initiatives: Responsible Sourcing

Our mandatory independent audit programme verifies the legitimacy of gold and silver supply chains, ensuring sourcing meets international ethical standards.

Responsible Sourcing Newsletter

Responsible Sourcing Newsletter: March 2025

Read the latest Responsible Sourcing Newsletter, which provides a focus on the Responsible Sourcing building blocks, a sourcing advisory for Gasabo Gold Refinery, and a sad but fond farewell to Sakhila Mirza.

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Sustainability and Responsible Sourcing Report 2024

LBMA’s Sustainability and Responsible Sourcing Report aims to increase the transparency of the LBMA Responsible Sourcing Programme.

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Responsible Gold Guidance V9

Finalised in November 2021, the Responsible Gold Guidance is the document that underpins LBMA's Responsible Sourcing Programme.

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Featured Training

LBMA Virtual Training Courses

LBMA’s bullion market training gives you the tools to successfully engage with the market. This live virtual course offers a detailed and definitive primer for any investor or institution looking to understand and take part in the global precious metals market. This course is CPD Accredited.

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Vault Operators Training

LBMA’s Vault Operators training aims to raise standards at all delivery points around the world. It provides all learning resources and assessment tools needed to ensure vault operators apply the same high standards as the London vaults.

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Key Publications

Guide to the Loco London Precious Metals Market

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Global Precious Metals Code V2

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Good Delivery Rules

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LBMA Exhibition

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