{"id":21652,"date":"2026-10-12T16:28:38","date_gmt":"2026-10-12T15:28:38","guid":{"rendered":"https:\/\/metalsradar.com\/glossary\/lbma-good-delivery\/"},"modified":"2026-10-12T16:28:38","modified_gmt":"2026-10-12T15:28:38","slug":"lbma-good-delivery","status":"publish","type":"page","link":"https:\/\/metalsradar.com\/in\/glossary\/lbma-good-delivery\/","title":{"rendered":"LBMA Good Delivery"},"content":{"rendered":"<div class=\"mrf-gl\"><p class=\"gl-def\">LBMA Good Delivery is the London Bullion Market Association&#039;s standard for the 400 oz gold bars and 1,000 oz silver bars that banks trade in London. A refiner on its Good Delivery List has passed audits of its bars, finances and sourcing; one Indian refinery is on the gold list.<\/p><aside class=\"panel gl-live\"><p class=\"gl-live-h\">\ud83c\uddee\ud83c\uddf3 Today in India<\/p><div class=\"gl-row\"><span>Gold, 1 troy ounce (spot)<\/span><b>399,118 INR<\/b><\/div><p class=\"gl-src\">Data as of 12.10.2026, updated daily.<\/p><a class=\"btn primary\" href=\"https:\/\/metalsradar.com\/in\/cheapest-gold-coins\/\">Compare gold coin prices \u203a<\/a><\/aside><div class=\"gl-body\"><h2>Why a London list matters in India<\/h2><p>Banks and bullion houses trade gold between themselves mostly in London, outside any exchange. The London Bullion Market Association writes the rules for that trade, and its Good Delivery List is the roll of refiners whose large bars the market will take without question. A refiner keeps its place only if it keeps passing LBMA reviews of its assaying, its bars, its finances and where its gold comes from.<\/p><p>The bars themselves are huge by Indian retail standards. A gold Good Delivery bar holds around 400 troy ounces, close to 12.4 kg, and must be at least 995 <a href=\"fineness}}\">fine<\/a>. The silver version is around 1,000 troy ounces. Trading in these wholesale bars sets the international <a href=\"spot-price}}\">spot price<\/a> that your rupee rate is built on, even though no jeweller will sell you one.<\/p><h2>The Indian refiner on the list<\/h2><p>When we checked the LBMA's current gold Good Delivery List in October 2026, one refiner in India appeared on it: <strong>MMTC-PAMP India Pvt Ltd<\/strong>, with its refinery at Mewat in Haryana, first listed on 16 May 2014. The list changes, so check it again when a brand matters to you.<\/p><p>Keep the scope in mind. The accreditation is for the refinery's 400 oz bars, so a 5 g or 10 g bar from the same company is not a Good Delivery bar. What the listing tells you is that the company behind the stamp passes an international audit, and a name that buyers trust tends to fetch a fairer buy-back price, which keeps your <a href=\"spread}}\">bid-ask spread<\/a> down. Our page of <a href=\"\/in\/mints\/\">mints and refiners<\/a> lists the brands we track.<\/p><h2>LBMA and BIS: two different checks<\/h2><table><thead><tr><th><\/th><th>LBMA Good Delivery<\/th><th>BIS hallmark<\/th><\/tr><\/thead><tbody><tr><td>Who sets it<\/td><td>London Bullion Market Association<\/td><td>Bureau of Indian Standards<\/td><\/tr><tr><td>What it covers<\/td><td>Refiners of large wholesale bars<\/td><td>Jewellery and artefacts; licensed refineries and mints for 995 and 999 bullion and coins<\/td><\/tr><tr><td>What you see<\/td><td>Refiner's brand on the bar<\/td><td>BIS logo, purity mark and, on jewellery, a HUID code<\/td><\/tr><\/tbody><\/table><p>Most Indian coins and small bars are sold by refiners and jewellers that are not on the LBMA list. For them, the BIS hallmark and the purity printed on the product are the practical checks.<\/p><h2>The LBMA Gold Price in Indian time<\/h2><p>Besides the bar list, the LBMA is known for its reference prices. ICE Benchmark Administration runs an auction for gold twice on every London business day, at 10:30 and 15:00 London time, and one for silver at noon. For a reader in Delhi or Bengaluru the gold auctions fall at 15:00 and 19:30 IST in the British summer and at 16:00 and 20:30 IST in the British winter. Results come out in dollars, pounds and euros; there is no rupee version. For day-to-day buying the live <a href=\"\/in\/charts\/gold-price\/\">gold price in INR<\/a> is more useful.<\/p><h2>Using this when you buy<\/h2><ol><li>Treat the LBMA list and the BIS licence as brand checks for bars, not as a guarantee of a good price.<\/li><li>For silver, look at offers in the <a href=\"\/in\/product\/1kg-silver-bar\/\">1 kg silver bar<\/a> comparison; for gold, start from the <a href=\"\/in\/cheapest-gold-coins\/\">cheapest gold coins ranking<\/a>.<\/li><li>Decide on the delivered price per gram of fine metal, and how far it sits above the metal value, the <a href=\"premium}}\">premium over spot<\/a>.<\/li><\/ol><\/div><h2>Related terms<\/h2><p class=\"gl-chips\"><a class=\"gl-chip\" href=\"https:\/\/metalsradar.com\/in\/glossary\/spot-price\/\">Spot Price<\/a> <a class=\"gl-chip\" href=\"https:\/\/metalsradar.com\/in\/glossary\/fineness\/\">Fineness<\/a> <a class=\"gl-chip\" href=\"https:\/\/metalsradar.com\/in\/glossary\/bullion\/\">Bullion<\/a> <a class=\"gl-chip\" href=\"https:\/\/metalsradar.com\/in\/glossary\/bid-ask-spread\/\">Bid-Ask Spread<\/a><\/p><section class=\"mrf-faq\"><h2>FAQ<\/h2><div class=\"faq-list\"><details open><summary><h3>Is any Indian refiner LBMA accredited?<\/h3><\/summary><div class=\"a\"><p>Yes, MMTC-PAMP India Pvt Ltd, with its refinery at Mewat in Haryana, is on the LBMA's current gold Good Delivery List, first listed in 2014.<\/p><\/div><\/details><details><summary><h3>Is LBMA Good Delivery the same as a BIS hallmark?<\/h3><\/summary><div class=\"a\"><p>No, LBMA accredits refiners of large wholesale bars, while BIS hallmarks jewellery and licenses refineries and mints that hallmark 995 and 999 bullion and coins.<\/p><\/div><\/details><details><summary><h3>What time is the LBMA Gold Price set in India?<\/h3><\/summary><div class=\"a\"><p>The two London auctions at 10:30 and 15:00 fall at 15:00 and 19:30 IST in British summer time and at 16:00 and 20:30 IST in winter.<\/p><\/div><\/details><\/div><\/section><details class=\"gl-src-list\"><summary>Sources<\/summary><ul><li><a href=\"https:\/\/www.lbma.org.uk\/good-delivery\/about-good-delivery\" rel=\"nofollow noopener\" target=\"_blank\">LBMA: About Good Delivery<\/a><\/li><li><a href=\"https:\/\/www.lbma.org.uk\/good-delivery\/gold-current-list\" rel=\"nofollow noopener\" target=\"_blank\">LBMA: Gold Good Delivery List (current)<\/a><\/li><li><a href=\"https:\/\/www.lbma.org.uk\/prices-and-data\/precious-metal-prices\" rel=\"nofollow noopener\" target=\"_blank\">LBMA: Precious metal prices<\/a><\/li><li><a href=\"https:\/\/www.bis.gov.in\/hallmarking-overview\/brief-on-hallmarking\/\" rel=\"nofollow noopener\" target=\"_blank\">Bureau of Indian Standards: Brief on Hallmarking Scheme<\/a><\/li><\/ul><\/details><\/div>\n","protected":false},"excerpt":{"rendered":"","protected":false},"author":0,"featured_media":0,"parent":21632,"menu_order":10,"comment_status":"closed","ping_status":"closed","template":"","meta":{"inline_featured_image":false,"_kad_blocks_custom_css":"","_kad_blocks_head_custom_js":"","_kad_blocks_body_custom_js":"","_kad_blocks_footer_custom_js":"","_kad_post_transparent":"","_kad_post_title":"","_kad_post_layout":"","_kad_post_sidebar_id":"","_kad_post_content_style":"","_kad_post_vertical_padding":"","_kad_post_feature":"","_kad_post_feature_position":"","_kad_post_header":false,"_kad_post_footer":false,"_kad_post_classname":"","_glsr_average":0,"_glsr_ranking":0,"_glsr_reviews":0,"footnotes":""},"class_list":["post-21652","page","type-page","status-publish","hentry"],"taxonomy_info":[],"featured_image_src_large":false,"author_info":{"display_name":"","author_link":"https:\/\/metalsradar.com\/in\/"},"comment_info":0,"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/metalsradar.com\/in\/wp-json\/wp\/v2\/pages\/21652","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/metalsradar.com\/in\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/metalsradar.com\/in\/wp-json\/wp\/v2\/types\/page"}],"replies":[{"embeddable":true,"href":"https:\/\/metalsradar.com\/in\/wp-json\/wp\/v2\/comments?post=21652"}],"version-history":[{"count":0,"href":"https:\/\/metalsradar.com\/in\/wp-json\/wp\/v2\/pages\/21652\/revisions"}],"up":[{"embeddable":true,"href":"https:\/\/metalsradar.com\/in\/wp-json\/wp\/v2\/pages\/21632"}],"wp:attachment":[{"href":"https:\/\/metalsradar.com\/in\/wp-json\/wp\/v2\/media?parent=21652"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}