London Good Delivery Gold Bar

London good delivery gold london good delivery silver a primary function of the london bullion market association lbma is facilitating the international distribution and acceptability of their silver bars.

London good delivery gold bar.

In 1750 the bank of england set up the london good delivery list for gold which formally recognised those refineries which produced gold bars to the required standard. London good delivery lgd bars contain approximately 400 troy ounces 12 5 kg of fine gold. That leave only 353 tonnes in the london vaults that is not at the bank of england not in the spdr gold trust and not in the ishares gold trust. It is stamped on the top the bigger face with the manufacturer s name the weight and the assayed purity.

It also puts forth requirements for listing on the lbma good delivery list of approved refineries. In the jp morgan vault in london iau currently holds 7 265 good delivery gold bars 2 907 million ounces which is 90 tonnes. The good delivery specification is a set of rules issued by the london bullion market association lbma describing the physical characteristics of gold and silver bars used in settlement in the wholesale london bullion market. This london good delivery bar of bullion weighs 400 troy ounces about 12 4 kilograms and is about eleven inches long.

Today lbma own and manage the good delivery lists for both gold and silver. London good delivery gold bars do not weigh exactly 400 troy ounces rather they range from 350 troy ounces to 430 troy ounces however buyers only pay for the exact amount of troy ounces in the bar they purchase. This bullion is commodity gold and is handled as such in the vaults where the bars are stored. London good delivery gold bars c.