How London’s Gold Market, the World’s Largest, Evolved Over Time
- OTC market set to begin trade reporting; futures being started
- Until recently, market largely unchanged for about a century
Gold bars sit stacked in this arranged photograph at Solar Capital Gold Zrt. in Budapest, Hungary, on Thursday, March 10, 2016. Gold advanced to the highest level in a year after the European Central Bank indicated it wouldn't cut interest rates further, boosting the euro and making dollar-denominated bullion less expensive for investors.
Photographer: Akos Stiller/BloombergWhen the precious metals industry meets in Singapore next week for an annual gathering, one of the key topics will be the coming changes to how gold is traded in London.
A new trade-reporting service and the introduction of exchange-traded futures will be the latest developments in a market that until recently remained largely unchanged for about a century. Here’s a timeline of main events over the past 350 years, according to the London Bullion Market Association.