Gold Bars are classified into two different types- casted and minted based on their manufacturing method. Where gold is measured in ounces, these are troy ounces, which is heavier than the avoirdupois ounce used for food
Good Delivery Bars
The gold industry relies greatly on refiners whose gold bars are accepted by associations and exchanges as interest elocution for the settlement of transactions
The reason for this is that each alliance and exchange normally requires the specified benefit diction bars, and the refiners operating from approved refineries, to meet a broad radius of criteria
The way further generates confidence in the akin sell that endorsed refiners area of other bars and products would moreover be manufactured to the same tall standard.
The most great guide of refiners for the international gold halt market is that known by the London Bullion Market Association (LBMA)
Known as The Good Delivery List of Acceptable Refiners: Gold for the settlement of transactions on the London Bullion Market, it records the title of the major refiners around the cosmos that retain met its stringent criteria for accreditation
Europe LBMA London Bullion Market Association Americas COMEX New York Mercantile Exchange (NYMEX) COMEX Division BM&F Brazilian Mercantile& Futures Exchange Sao Paulo Middle East DMCC Dubai Multi Commodities Centre IGE Istanbul Gold Exchange Far East TOCOM Tokyo Commodity Exchange SGE Shanghai Gold Exchange SHFE Shanghai Futures Exchange CG&SES The Chinese Gold &Silver Exchange Society Hong Kong
Each Association and Exchange specifies its hold load and purity For LMBA the fineness is 995+. The LMBA publishes a register of Acceptable Refiners whose gold bars which weigh approximately 400oz (12.5g) are accepted as London Good Delivery. It further lists Former Melters and Assayers of Good Gold Delivery Bars