Central banks operating in stealth at the heart of the London Gold Market

While many people will be familiar with the term ‘London Gold Market’, most will have little knowledge about its inner workings, especially when it comes to how, and to what extent, the world’s central banks trade and lend gold in London through the Bank of England and the LBMA bullion banks.

And that’s the way they like to keep it. Never in the history of financial markets has there been a trading venue that has been more opaque, more secretive, and more impenetrable than the London Gold Market. Especially when it comes to central bank gold operations.

Central banks operating in stealth at the heart of the London Gold Market