International Gold Name
The international gold name is a unique identifier assigned to each gold bar that is produced and traded on the global market. It is a combination of letters and numbers that identifies the refiner, the assayer, the weight of the bar, and the purity of the gold.
The international gold name was developed by the London Bullion Market Association (LBMA) in 1987. The LBMA is the world’s leading authority on precious metals, and it sets the standards for the gold market. The international gold name is now used by all major gold refiners and traders around the world.
The international gold name is important because it provides a way to track the movement of gold bars through the market. It can also be used to verify the authenticity of a gold bar.
The format of the international gold name is as follows:
* The first two letters identify the refiner.
* The next two letters identify the assayer.
* The next three digits indicate the weight of the bar in grams.
* The final two digits indicate the purity of the gold in thousandths.
For example, the international gold name “LBMA00010000” indicates that the bar was refined by the London Bullion Market Association, assayed by the Royal Mint, weighs 1000 grams, and is 999.9 fine gold.
The international gold name is a valuable tool for the gold market. It provides a way to track the movement of gold bars and to verify their authenticity.
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