LBMA – its history and development
We trade exclusively in gold bars accompanied by a LBMA certificate. Here, you can learn more about the history of the LBMA certificate.
Before 1684, the main focus of trading in physical precious metals was in Amsterdam. However, this changed quickly when the banking house Mocatta & Goldsmid was founded in 1684. From that moment, the main focus of international trade in gold and silver shifted from Amsterdam to London.
On the London Bullion Market, the current price of silver (since 1897) and since 1919 also the price of one ounce of gold is set twice a day (the so-called London Gold Fixing).
Until 1987 – the founding year of the current LBMA (London Bullion Market Association) – the Bank of England as the competent authority regulated the market for physical precious metals.
More than 600 tons of physical gold and more than 3.000 tons of fine silver are traded daily on the London Bullion Market.
Over the counter (in OTC- trading), precious metals are mainly bought and sold here between institutional investors, wholesalers, and international banks, as well as between producers and manufacturers.
The minimum volume of transactions at the LBMA is generally 1.000 ounces of fine gold or 50.000 silver ounces.
