Latest news with #RuthCrowell
TimesLIVE
09-05-2025
- Business
- TimesLIVE
Most LBMA refineries using gold database, association says
Most gold refineries accredited by the London Bullion Market Association (LBMA) are now providing data to a digital platform launched in January to increase transparency in the industry, the association's head says. The LBMA oversees London's over-the-counter gold trading hub, the world's largest. Its "good delivery" list currently includes 66 gold refiners and 83 silver refiners worldwide that must source metal responsibly to access the London market. The association's Gold Bar Integrity Database holds data submitted by refiners. "We're in a very good place on the pickup," Ruth Crowell, the LBMA's CEO, said of the database. "We have 85% of refiners on board now." The LBMA aims to have all its approved refiners using the database before the end of this year. The push for disclosure was timely given record gold prices amid turbulence on financial markets had stoked demand for the precious metal, Crowell told Reuters on Wednesday on the sidelines of a responsible mining conference at the Organisation for Economic Cooperation and Development in Paris.
Reuters
29-01-2025
- Business
- Reuters
London bullion association launches digital database for gold bars
LONDON, Jan 29 (Reuters) - The London Bullion Market Association has launched a digital database for gold bars to improve transparency in the precious metals market, expecting all LBMA-accredited refineries to come onboard in 2025. The LBMA's "good delivery" list currently includes 66 gold refiners and 82 silver refiners around the globe, which must source gold responsibly under the accreditation requirements that give them access to the London hub, the world's largest for over-the-counter gold trading. Refiner data and London vaults' holdings data will now be held on the Gold Bar Integrity Database, a digital platform that uses distributed ledger technology provided by a firm aXedras. "This means faster, more secure data collection and processing," LBMA CEO Ruth Crowell said in a statement on Wednesday. "Beyond this, the platform's ability to automate risk identification and flag potential issues quickly will play a vital role in enhancing confidence across the market," she added. here.
Yahoo
29-01-2025
- Business
- Yahoo
London bullion association launches digital database for gold bars
LONDON (Reuters) - The London Bullion Market Association has launched a digital database for gold bars to improve transparency in the precious metals market, expecting all LBMA-accredited refineries to come onboard in 2025. The LBMA's "good delivery" list currently includes 66 gold refiners and 82 silver refiners around the globe, which must source gold responsibly under the accreditation requirements that give them access to the London hub, the world's largest for over-the-counter gold trading. Refiner data and London vaults' holdings data will now be held on the Gold Bar Integrity Database, a digital platform that uses distributed ledger technology provided by a firm aXedras. "This means faster, more secure data collection and processing," LBMA CEO Ruth Crowell said in a statement on Wednesday. "Beyond this, the platform's ability to automate risk identification and flag potential issues quickly will play a vital role in enhancing confidence across the market," she added. Sign in to access your portfolio
