You are here

Ronan Manly: LBMA initiative will prevent transparency in London gold market

Section: Daily Dispatches

12:55p ET Tuesday, October 30, 2018

Dear Friend of GATA and Gold:

Bullion Star market analyst Ronan Manly, long a close observer of the London Bullion Market Association, writes today that the association's pledge Monday --

-- to increase transparency in the London gold market is phony because the data to be published will consist mainly of a five-day average of trades and will exclude trades by parties that are not LBMA members.

... Dispatch continues below ...


Goldco Is America's No. 1 Gold IRA Provider

Goldco Precious Metals was founded by Trevor Gerszt in 2006 with a mission to help Americans protect their retirement accounts from market volatility and inflation by adding precious metals like gold and silver.

Experts predict that we are headed toward another economic crash like the one in 2008. If you aren't prepared, your retirement savings could vanish. At Goldco we take the time to understand our customers' investment goals and objectives and give them the resources to feel confident that their money will be there for them when they need it.

To learn more about adding gold and silver precious metals to your retirement accounts, please visit Goldco here:

Manly writes: "There is nothing transparent about this initiative. A rolled-up aggregate number of trading volumes in any market is by definition opaque and not very useful. The LBMA reporting will provide no granularity of trades by trade type, transaction type, client profile (ETF trades, central bank trades, miner trades, and refiner trades), no breakdown of physical gold trades vs. paper gold trades, and no information on the secretive central bank gold trades, gold loans, and gold swaps.

"Given that the London precious metals market trade data is now being collected in an LBMA database, all of the above granular trade data could be published. That the LBMA will not publish any of this data speaks volumes about its true intention, which is to continually stifle the availability of any real data about the London gold and silver markets."

Manly's commentary is headlined "LBMA's New Trade Volume Data Will Do Nothing for the Transparency of the London Gold Market" and it's posted at Bullion Star here:

CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.

* * *

Join GATA here:

New Orleans Investment Conference
Hilton New Orleans Riverside Hotel
Thursday-Sunday, November 1-4, 2018

* * *

Help keep GATA going:

GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at:

To contribute to GATA, please visit: