LBMA was challenged again

The industry status of the London Gold and Silver Market Association is formed by history. With the help of a strong ship for the industrial revolution, the United Kingdom has established the world's premier financial center while occupying the colonies worldwide to build a sunrise -free empire. As an important financial asset, gold has gradually gathered to London. London absorbs gold trading from Amsterdam, Paris, Antwerp and other places, and has become a global gold trading center.

(This article is an original article of China Gold Network. The content is for reference only, and does not constitute operating suggestions or investment guidelines.)

In the golden world, the standards of the London Gold and Silver Market Association (LBMA) are like a passport. With it, it can travel in various regions of the world. In the early years, the "wild" business school summarized the "first -class enterprises to do standards, second -class enterprises to make brands, and third -class enterprises to make products", so that the London Gold and Silver Market Association is undoubtedly the first leaky.

But there are also new participants who also want to do standards in the gold market. A letter from the Russian Ministry of Finance's recent participants in the gold industry shows that the Russian Ministry of Finance proposes the formulation of a new international standard for the precious metal market -Moscow World Standard (MWS) to make the precious metal industry run normally; Become a standard for the London Gold and Silver Market Association.

The letter states that in order to make the precious metal industry running normally, it is extremely necessary to create an independent international infrastructure and replace the London Gold and Silver Market Association in a function. The exchange (MBDM) is the basis of the proposed agency.

The Russian Ministry of Finance hopes that the members of the organization will be attractive to all foreign market participants, especially China, India, Venezuela, Peru and other South America and African countries. The agency predicts that the move will quickly break the monopoly of the London Gold and Silver Market Association to ensure the stable development of the industry.

However, the standard monopoly of the London Gold and Silver Market Association is not so easy to break. The industry status of the London Gold and Silver Market Association is formed by history. With the help of a strong ship for the industrial revolution, the United Kingdom has established the world's premier financial center while occupying the colonies worldwide to build a sunrise -free empire. As an important financial asset, gold has gradually gathered to London.

London absorbs gold transactions from Amsterdam, Paris, Antwerp and other places, and has become the center of global gold transactions. This advantage in London has been maintained to this day, and London Financial City is still a global gold spot trading center.

The London Gold and Silver Market Association, which is divided into Bank of England, was established in 1987. Its main responsibility is to improve the operating efficiency of the London gold market and expand the influence of the London gold market, and promote all the participants of all gold markets, including gold production parties, refined parties, and refined parties, and Business activities such as traders. At the same time, it cooperates with relevant management departments in the UK, such as the British Financial Administration, Tariffs and Consumer Taxation Bureau to maintain the stable and orderly development of the London gold market.

Each ounce of gold in the London market must meet the standards of the London Gold and Silver Market Association. If it fails to meet the gold standards of the London Gold and Silver Market Association, it means that it is rejected by the global gold market, which will bring smaller liquidity and higher transaction costs.

Of course, the golden standards established by the London Gold and Silver Market Association have always been unconvinced, and the efforts of replacing them have not stopped. The Golden Trading Center in the Gulf area has tried to promote the Dubai standard of gold, and now Russia wants to come up with the Moscow standard.

The challenge to London's gold standard lacks sufficient precipitation and accumulation in the gold market. Although the power of administrative power can be promoted in the regional market, it has attracted more city merchants and participants in a wider range. Whether it is Dubai or Moscow, there are more realistic considerations to challenge the Gold Standards for the London Gold and Silver Market Association, not limited to market factors.

For example, the London Gold and Silver Market Association has threatened it from the qualified refiner system due to the smuggling of gold in Dubai. In March of this year, the London Gold and Silver Market Association has suspended its certification of six Russian precious metal refiners. Since then, Russia's newly produced gold bars cannot be traded in London, and the EU has also taken effect in Russia's gold ban in late July.

Under such conditions, both Dubai and Moscow Standards have to seek the next alternative option.

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