What is LBMA?
LBMA stands for the London Bullion Market Association. It is an international trade association that represents the London bullion market. LBMA approves metals to ensure the specifications and quality are up to standards. These standards include all aspects of the bullion process, from refinery to trading.
Refineries that are approved by the LBMA are eligible to produce Good Delivery bars. Some Good Delivery List refineries include Valcambi, PAMP, Metalor, and others. Good Delivery gold bars are gold bars that follow strict specifications, such as weight (400 oz), shape (trapezoidal), appearance (smooth), and marks (refinery stamp, assay mark, fineness, serial number, and weight). These bars are shipped to London vaults, where institutions can then trade them on the open market.
An LBMA gold bar is any gold bar manufactured by an LBMA-approved refinery on the Good Delivery List. These bars have the same quality standards as a Good Delivery bar, but do not have to be the same weight or shape. LBMA-approved gold bars ensure purity (99.99%), quality, and liquidity.