LBMA Good Delivery is the London Bullion Market Association's standard for large gold and silver bars and the refiners allowed to make them. Bars from listed refiners are accepted across the wholesale market.
What the LBMA does
The London Bullion Market Association (LBMA) is the trade body for the London over-the-counter market, the largest wholesale market for gold and silver. It does three things that touch every buyer, even in Dubai:
- Good Delivery List: the refiners whose large bars are accepted in London. Refiners are vetted and re-checked regularly.
- Bar specifications: a Good Delivery gold bar weighs 350 to 430 troy ounces with a fineness of at least 995; a silver bar weighs 750 to 1,100 ounces at 999 or better.
- Benchmark prices: the LBMA Gold Price and LBMA Silver Price, set by auctions run by an independent administrator and used in contracts worldwide.
The LBMA Gold Price is set twice each London business day and anchors the spot price you see converted into dirhams.
UAE Good Delivery
The UAE runs its own national standard. UAE Good Delivery (UAEGD) sets quality and technical requirements for refineries and gold production facilities in the Emirates. It is operated by the Executive Office of the UAE Bullion Market Committee, chaired by the Ministry of Economy. UAEGD replaced the earlier Dubai Good Delivery standard, which DMCC had run, and turned it into a federal framework.
| Feature | LBMA Good Delivery | UAE Good Delivery |
|---|---|---|
| Run by | LBMA, London | UAE Bullion Market Committee, Ministry of Economy |
| Scope | Global wholesale market | Refineries and facilities in the UAE |
| Main role for retail buyers | Global recognition of the refiner | National standard for locally refined bars |
Why it matters for a retail buyer
You will rarely buy a 400 oz bar, but the refiner behind your kilobar or TT bar matters. A bar from a refinery on the LBMA list, or accredited under UAEGD, is easier to sell back at a fair price because dealers recognise it without extra testing. That keeps your bid-ask spread narrower.
When you compare offers, check the refiner name on the bar and the stated fineness. Then compare final prices in our gold bar listings in AED or start with a 1 oz Britannia from a state mint.
Related terms
Spot Price Fineness Bid-Ask Spread Bullion
FAQ
Is an LBMA bar better than a UAE Good Delivery bar?
Both standards check the refiner, but LBMA listing gives the widest international recognition, which can help if you sell outside the UAE.
What replaced Dubai Good Delivery?
Dubai Good Delivery was replaced by the national UAE Good Delivery standard, overseen by the UAE Bullion Market Committee under the Ministry of Economy.
Does the LBMA set the gold price?
The LBMA Gold Price benchmark is set twice a day through an auction run by an independent administrator, while spot prices trade continuously between those auctions.