Judicial Dictionary

Precious Metals Prices

London is home to the international prices for Gold, Silver, Platinum and Palladium. London is home to one of the world’s largest physical holdings of gold and silver.

  • The LBMA Gold price is set twice daily at 10:30 and 15:00 in an auction independently operated and administered by ICE Benchmark Administration(IBA). The price is set in US dollars per fine troy ounce. Sterling and Euro prices are available but they are indicative prices for settlement only. IBA also publish the price in a range of other currencies.
  • The LBMA Silver price auction is independently operated and administered by ICE Benchmark Administration. The price is set daily in US dollars per ounce at 12:00 noon London time. Sterling and Euro prices are available but they are indicative prices for settlement only.
  • The LBMA Platinum and Palladium prices are set twice daily (at 09:45 and 14:00) in US dollars per .9995 fine ounces in an auction process independently operated and administered by the LME. Sterling and Euro prices are available but they are indicative prices for settlement only.

Bullion transactions are settled and cleared by London Precious Metals Clearing Limited.


Source: LBMA

Categories: Judicial Dictionary