London is the leading hub for spot gold trading and settlement,
and it is also home to the largest and oldest spot gold market in the world. Each trading day, the top
five spot gold traders designated by the London Bullion Market Association (LBMA) determine the spot
gold market price for that day. Unlike other spot gold markets, it provides a single quote for buying
and selling gold for market traders. The London gold market, which falls under the London Bullion
Market, is characterized by the absence of a fixed trading venue. Spot gold (known as London Gold) is
primarily traded over-the-counter through electronic trading systems or platforms, allowing transactions
to take place anytime and anywhere.
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