Gold has been traded on the London Market since 1919 and the Gold-Fix is set twice daily at 10:30am and 3pm GMT. The Gold price is fixed by 5 members of the London Bullion Market Association LBMA when they meet to agree the Gold Fix. As well as the London Bullion Market Gold is traded around the world on the New York Mercantile Exchange NYMEX and the Tokyo Commodities Exchange TOCOM. The US New York Exchange Gold Market NYMEX opens when the second Fix of the day is made in the London Bullion Market and trade continues through the day. Other popular ways of investing in gold bullion are to physically hold gold bars or bullion in coinage form (coins or bullion rounds) or to invest in shares in a Gold Mining company.
Silver bullion is readily available in coins of 1 troy ounce .999 purity fine silver. Some silver rounds coins available are American Eagles, Canadian Maple Leaf and Chinese Silver Pandas. Silver bars are commonly available in 1 oz, 10oz bullion bar upto 100oz silver bullion bars.
Gold bars can be purchased in many sizes from 1 gram bullion bar to One Kilogram bars. London Good Delivery Bars are the standard held by banks and financial institutions, good delivery bullion bars must contain between 350 - 430 troy ounces of gold and a minimum fineness of 995 parts per thousand. The definition of Silver good delivery bars are silver bullion bars containing 750 - 1100 ounces of Silver with a minimum purity of 99.9 percent silver.
There is an extensive list of Good Delivery approved Gold refiners Worldwide that melt and assay Gold Bullion Bars. Some are Johnson Matthey, PAMP Suisse of Switzerland, Credit SUISSE, Royal Canadian Mint, AGR Matthey, The Great Wall Gold & Silver Refinery of China.Gold bars are the most cost effective way to hold an investment in gold for the larger investor due to low premium charged by suppliers. The smaller investor may choose to hold a gold bullion investment in the form of coins, due to the ease of storage and the collectable nature of minted bullion coins.