The London Bullion Market Association (LBMA) represents the wholesale gold and silver market worldwide. Its members provide the banking, dealing, vaulting and transport services which buyers and sellers need to trade large-bar gold and silver efficiently. To ensure the quality of material, the LBMA issues and maintains on behalf of its members the Good Delivery List of bullion refineries, who are approved to produce the large bars accepted by the London market. These wholesale bars must meet strict standards of fineness, weight, shape and markings.
The LBMA’s nine market-making members, all of whom are international investment banks, undertake to quote firm buy and sell prices throughout the day for gold and silver delivered inside accredited London vaults. BullionVault is the only ordinary member of the association dedicated solely to providing precious metals to private individuals. The LBMA’s small executive team also represent the market’s interests to governments and regulators, and arrange various social functions for networking, such as the annual LBMA conference – widely seen as the premier event for gold and silver worldwide.
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