London Good Delivery Gold Bar

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.

London good delivery gold bar.

It is stamped on the top the bigger face with the manufacturer s name the weight and the assayed purity. This bullion is commodity gold and is handled as such in the vaults where the bars are stored. 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. 400 oz have a fineness or gold content of at least 995 0 parts per thousand fine gold.

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. What is a london good delivery bar. Today lbma own and manage the good delivery lists for both gold and silver.

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. A good delivery bar is a gold or silver bar which meets the rules and regulations set by the london bullion market association lbma a global authority for precious metal. 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. London good delivery gold bars c.