Change is brewing in London as the the LBMA – the association that oversees the world’s largest gold market – is looking at how best to modernise and improve over-the-counter gold trading.
LBMA Annual Conference
As members of the world’s gold industry meet this week at the LBMA’s annual conference in Vienna, their proposals are being sought on how to bring the gold trading in London up to date.
According to Eddie Van Der Valt reporting today for Bloomberg, London’s bullion market is more than three centuries old and has cleared about $21 billion of gold on average each day through the city this year.
Key considerations for reform include “boosting transparency and… considering a new electronic platform that may lower trading costs and improve efficiency”.
Read more on the GoldCore.com blog
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Today’s Gold Prices: USD 1171.65 , EUR 1032.93 and GBP 757.86 per ounce.
Friday’s Gold Prices: USD 1176.35, EUR 1035.34 and GBP 761.39 per ounce.
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