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MoneyGold - London Good Delivery ListTraders and owners of gold want to be sure that the gold is of high quality and this led to the setting up of the London Good Delivery List. 'London Good Delivery' represents the standard measure of quality for gold bullion and has become the accepted worldwide standard. It is the ultimate seal of approval for a gold bar. A Good Delivery bar must be at least 995 parts per thousand pure gold, with 999.9 being the highest possible quality. The minimum weight is 350 fine ounces and the maximum 430 fine ounces. The weight of each bar is expressed in troy ounces in multiples of 0.025. Every bar is weighed when it enters the vaults of the Bank of England and the scales are accurate to this weight. This weight is known as a grain and is equivalent to less than the weight of a postage stamp. Read on to find out how the price of gold is fixed each day in the London gold market. |
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