What is LBMA Good Delivery List, you ask? What is LBMA gold? Read on to find out.
LBMA gold is gold of the highest quality and is recognized worldwide.
‘LBMA’ is an acronym and stands for ‘London Bullion Market Association’.
What is LBMA exactly? LBMA is an international trade association for gold and silver bullion. If you are not aware, ‘bullion’ is simply another word for precious metals bars and ingots.
LBMA was established in London in 1987.
Who are LBMA clients? LBMA clients are located all over the world and include central banks, investors, gold and silver mining producers and refineries. For your info, a ‘refinery’ is just a facility that removes impurities from raw gold.
Although LBMA has a wide range of responsibilities, its main responsibility is to maintain a Good Delivery List.
What is LBMA Good Delivery List?
LBMA Good Delivery List is a list of gold and silver refineries that meet all requirements and adhere to procedures and policies set by LBMA.
LBMA keeps two such Lists: one for gold and the other for silver.
If a specific refinery is on the Good Delivery List, it means that its gold or silver is LBMA accreditation.
Moreover, to continue to maintain a spot on that List, that refinery must meet regular testing conducted by LBMA. Otherwise, it gets moved to the Former List.
Refineries must meet specific stringent criteria to acquire LBMA accreditation. Because of this, the quality of gold and silver of the refineries that are already on the List is unquestionable and is of universal standard.
To read more on the LBMA association, check their official website.
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Main references:
www.lbma.org.uk
FAQ
LBMA gold is gold of the highest quality and is recognized worldwide. Now, LBMA is an international trade association for gold and silver bullion.
LBMA Good Delivery List is a list of gold and silver refineries that meet all requirements and adhere to procedures and policies set by LBMA.
‘LBMA’ stands for ‘London Bullion Market Association’.