London Bullion Market Association

Submitted by Ronan Manly, BullionStar.com

On 5 February, the Financial Times of London (FT) featured a story revealing that the London Bullion Market Association (LBMA) plans to begin publishing data on the amount of real physical gold actually stored in the London precious metals vaulting network. The article titled “London gold traders to open vaults in transparency push” can be read here (accessible via FT subscription or via free monthly FT read limit).

Submitted by Ronan Manly, BullionStar.com

The second half of 2016 saw announcements by three exchange providers for plans to compete in the London Gold Market through offerings of exchange-traded London gold futures contracts.

London Gold Bullion Banks To "Open Vaults" In Transparency Push

London's gold bullion market, which is centuries old, is said to be seeking transparency with plans to reveal how much gold bullion is held in vaults in and around London city according to gold bullion banks. These include gold bullion bars held and controlled by the Bank of England, as reported by Henry Sanderson in the Financial Times.

Submitted by Ronan Manly, BullionStar.com

 
Introduction

When discussing bullion banking mechanics, it’s important to understand what a bullion bank actually is, and what activities bullion banks engage in. This appreciation also helps highlight the major concerns which modern bullion banking poses.

China’s Gold Intent – ICBC Bank Reclassified as an LBMA Market Maker

ICBC Standard Bank, China and the world's largest bank, has been reclassified as a spot Market Making Member of the London Bullion Market Association (LBMA) with effect from today according to a note posted on the LBMA website last night at 2100 GMT.

According to the post: