In October 2023, a net daily average of $33.1 bn of gold was cleared.
In October 2023, a net daily average of $4.8 bn of silver was cleared.
Welcome to the LPMCL
LOCO LONDON is the indisputable international standard for gold, silver, platinum and palladium dealing and settlement.
In this context Loco London, simply refers to the fact that London is the location where precious metals are physically held and settled.
The metal leg of much of the global ‘over-the-counter’ precious metal trading is cleared through the London clearing system, managed by the London Precious Metal Clearing Limited (LPMCL), which operates a central electronic metal clearing hub, with deals between parties throughout the world settled and cleared in London.
The fact that many Government Institutions and Central Banks entrust their gold to the Bank of England, and in some instances with the London clearing commercial banks, underlines the confidence that exists in London as the key marketplace for precious metal trading.
Members of the LPMCL
London Gold and Silver Vault Data for November 2023
Read the latest gold and silver stocks held in London vaults. These figures provide an important insight into London’s ability to underpin the physical OTC market.
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LBMA Net Clearing Data (Daily Averages): October 2023
Our clearing data represents the net volume of transfers of gold and silver physically held in London – known as Loco London.
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