Search
Search the whole magazine.
Full-text search across every article — headlines, decks, body copy, pull quotes, captions and FAQs — plus our editorial and legal policies.
8 results for “London Bullion Market Association (LBMA)” in Markets
Markets · 2 August 2026
Who Actually Sets the Gold Price
There is no single gold price. There is a London settlement number, a New York futures curve, a Shanghai premium and a jeweller's counter in Dubai — and the distance between them is where the market lives. · The headline gold price…
Ingrid Sørensen · 16 min read
Markets · 8 August 2026
Moving Bullion: The Logistics Nobody Prices
…ehouses and insurance clauses. It rarely makes news, and it is the reason a spot price in London can diverge from a bar in New York. · Allocated custody means specific numbered bars belong to you; unallocated means you are a creditor of the bank, and the difference only becomes v…
Ingrid Sørensen · 15 min read
Markets · 17 August 2026
Paper Gold: What You Own When You Do Not Own Bars
…s each promise gold in a different way — and the differences only become visible when the market stops working. · Paper gold is not a single product: futures, unallocated accounts, ETFs and structured notes carry different custody and counterparty terms. · A physically backed ETF…
Ingrid Sørensen · 23 min read
Markets · 18 August 2026
The Vault Beneath the City
…ents the country's government. · Physical audits of national gold reserves are rarer than markets assume; full independent bar-by-bar verification of the US gold stock has happened only a handful of times since the 1950s. · Repatriation is expensive and largely symbolic in normal…
Ingrid Sørensen · 22 min read
Markets · 20 June 2026
Bring It Home: Central Banks and the Great Gold Repatriation
…uring the Cold War it was safer outside the likely path of an invasion. · What does 'loco London' mean? It designates gold held in accredited London vaults, the default location for wholesale settlement. A loco London price is a price for metal deliverable there, which is why bar…
Ingrid Sørensen · 14 min read
Markets · 11 September 2026
The Last Audit: What We Actually Know About the World's Official Gold
…or holder has published. · The audit gap does not prove gold is missing. It does mean the market's most-quoted supply number is, at its foundation, a matter of institutional trust rather than fresh physical evidence. · How much gold do governments and central banks officially hol…
Ingrid Sørensen · 22 min read
Markets · 8 September 2026
The Real-Rate Trade: Why Gold Moves When Bond Yields Do
…ving — and the argument about why has become the most consequential debate in the metal's market. · Gold pays no coupon, so its main competitor is the inflation-adjusted yield on a government bond — the classic opportunity-cost argument. · From roughly 2005 to 2021 the gold price…
Ingrid Sørensen · 25 min read
Markets · 6 August 2026
Why Central Banks Started Buying Gold Again
For three decades official institutions were net sellers of bullion, and the policy consensus treated the metal as a museum piece. Then, quietly, the world's reserve managers reversed. The reasons are less about inflation than about the plumbing of s…
Ingrid Sørensen · 14 min read
