Gold price


The London Bullion Market is the most important gold and silver trading center and one of the main global gold markets in the city of London. The world price of gold has been established here since 1919. LONDON BULLION MARKET ASSOCIATION (LBMA) coordinates this trade.
The members are: refineries, producers, finishers, large international banks and worldwide distributors.

Only refineries and mints, that meet certain quality requirements are accepted in the association. A standard gold bar, has at least a purity of 995/1000 and normally weighs 400 ounces (1 ounce is 31.1 g), that is 12.440 grams. The international quality acronym, "Good LBMA delivery", guarantees the weight and purity printed on the ingot and a constant and continuous custody in accepted deposits. Ingots with LBMA Good-Delivery-Status are accepted and marketed worldwide.


Establishing the wholesale price:

The price of LBMA gold (ex goldfixing) is established, for the 400 ounce bar, twice a day with the aim of processing fixed price transactions.

Morning:  Monday to Friday, 10.30 am London time (11.30 am Italy time)
Afternoon: Monday to Friday, 3.00 pm London time (4.00 pm Italy time)

Price communication to the media:
daily, the set price is communicated and disseminated through newspapers, internet, etc. only after the conversion into ounces (unit of measure) example: LBMA gold price of 01/02/2020 AM: US $ 1.520,55/ounce or in Eur 1.358,46/ounce.

Establishing the retail price (for individuals):

Private customers can buy gold bars of various sizes and shapes: the largest purchaseble cut is 1 (one) kilogram. The available cuts are: 1000g, 500g, 250g, 100g, 50g, 31.1g (ounce), 20g, 10g, 5g, 2g, 1g, they have different shapes: usually up to 100g the ingots are printed, above are available in melted ingots too.

The retail gold price is established by adding to the LBMA quotation, the costs of production, custody, insurance, commercial margin for distribution and marketing. When the ingot cut is smaller, the relative reloading will be greater because producing a 50g ingot has the same cost than 100g ingot. Consequently the costs for small ingots are more expensive: buying two 50g ingots costs more than a 100g ingot. The form of ingots is however the most convenient in relation to purity and the incidence of costs in general

If you want to be sure to buy pure gold from a reputable manufacturer, we suggest you to check that gold is LBMA (London Bullion Market Association) certified. If the manufacturer is not in the list of Good-Delivery-Gold LBMA – please avoid gold purchasing, because when you resell it, you could occure in problems.

Would you like to buy pure gold 999.9 (24k) LBMA certified? Please, click here to request a free consultation!