|Ounce||Pound Sterling||Pound Sterling||Ounce|
|1 Ounce =||702.23 GBP||1 GBP=||0.00142 Ounce|
|2 Ounce =||1404.47 GBP||2 GBP=||0.00285 Ounce|
|5 Ounce =||3511.17 GBP||5 GBP=||0.00712 Ounce|
|10 Ounce =||7022.34 GBP||10 GBP=||0.01424 Ounce|
|20 Ounce =||14044.68 GBP||20 GBP=||0.02848 Ounce|
|25 Ounce =||17555.85 GBP||25 GBP=||0.0356 Ounce|
|50 Ounce =||35111.71 GBP||50 GBP=||0.0712 Ounce|
|100 Ounce =||70223.41 GBP||100 GBP=||0.1424 Ounce|
|1000 Ounce =||702234.13 GBP||1000 GBP=||1.42403 Ounce|
London gold market or London Bullion Market is by far the largest global centre for OTC transactions, followed by New York, Zurich, and Tokyo. It owns a long history for gold and silver trading. In 1804, London replaced Amsterdam as the center of world gold trading. In 1919, the London gold market was officially established, twice fixing gold price in a business day. So far, the London fixing price affects trading in New York and Hong Kong. In 1982, the London gold market specializes in spot trading; in April 1982 futures market opened.
The gold trading is among members of the London Bullion Market Association (LBMA) , loosely overseen by the Bank of England. Unlike other gold markets, it is entirely inaccessible to individuals and retail trade, the minimum amount of gold traded (per single transaction) is 1000 oz. London gold priced is in U.S. dollars, using the unit of ounces that is equal to 31.1034768 grams. Gold offer is mainly based on the gold spot price in the London market. Its gold fineness standard are 995, 9995 and 9999 three kinds.
Trading hours: round the clock.
London spot price fixing: 10:30 am and 3 pm each business day in USD, GBP, and EUR.