The London Bullion Market Association (LBMA) is a globally recognised organisation that plays a pivotal role in the international bullion market. Established in 1987, the LBMA oversees the wholesale trading of gold and silver, ensuring that market participants adhere to the highest standards of integrity, transparency, and security.
The LBMA comprises a diverse array of members, including banks, trading firms, refiners, and other key participants in the global bullion market. Moreover, as of March 2025, the LBMA has 174 member companies across 27 countries.
For a comprehensive and up-to-date list of LBMA members, including their contact details, please visit the LBMA’s official membership page.
Additionally, the LBMA maintains the Good Delivery List, which accredits refiners whose gold and silver bars meet the association’s exacting standards for trading on the global over-the-counter (OTC) market. Only refiners whose bars have been accredited by the LBMA appear on this list.
Membership in the LBMA signifies adherence to the highest standards of quality and integrity in the bullion market, ensuring that all members contribute to a transparent and reliable global trading environment.
LBMA Market Role
The LBMA acts as the principal authority for the London bullion market, setting standards for precious metals trading and refining. It is responsible for maintaining the LBMA gold standards and silver trading standards, which help ensure that market transactions meet stringent quality and ethical requirements. The association also oversees the Good Delivery List, which certifies refiners that meet strict quality and ethical sourcing criteria.
LBMA Gold and Silver Trading Standards
One of the key contributions of the LBMA to the global bullion market is the establishment of robust gold and silver trading standards. These standards govern the purity, weight, and dimensions of bullion bars, ensuring consistency and reliability in the market. Moreover, LBMA establishes clear guidelines for silver and gold bars. That’s why these standards make LBMA bullion the global benchmark for quality.
LBMA vs COMEX
The LBMA vs COMEX debate is often discussed among traders and investors. The LBMA runs an OTC market where counterparties trade directly. In contrast, COMEX operates as a futures exchange, facilitating the trading of standardized contracts. The LBMA’s OTC market allows for more flexible trading, whereas COMEX provides a structured platform with defined contract specifications.
LBMA and the Global Bullion Market
The LBMA plays a crucial role in the global bullion market, influencing pricing, refining, and trading practices. Central banks, mining companies, and investors worldwide internationally recognize and use LBMA Gold and Silver Prices as benchmarks. The LBMA sets gold and silver prices daily through an electronic auction. This process ensures transparent and reliable price discovery.
LBMA Accredited Refiners and Certification
Refiners seeking global credibility must obtain LBMA certification to be listed on the Good Delivery List. LBMA accredited refiners must meet stringent criteria, including minimum production levels, financial stability, and adherence to responsible sourcing guidelines. This certification ensures that gold and silver bars produced by these refiners meet the highest industry standards.
The LBMA remains at the heart of the international bullion industry, setting the benchmark for quality, transparency, and reliability. The association actively sets LBMA gold standards and regulates trading standards for gold and silver. It plays a key role in shaping the future of precious metals trading. Whether comparing LBMA vs COMEX, tracking the LBMA gold price, or sourcing LBMA silver bars, the LBMA’s influence on the global market is undeniable.
