The LME distributes gold and silver spot prices and forward rates on behalf of the London Bullion Market Association (LBMA).
How is this done?
At 17.00 the eight market makers of the LBMA contribute closing spot prices and forward rates to the LME via an automated data collection system.
A forward curve is produced with the following points:
- Spot price
- 1 week forward rates
- 1, 2, 3, 6, 9, 12, 18 months forward rates
- 2-10 years forward rates (for gold)
- 2-3 years forward rates (for silver)
This data reflects the daily close of the London bullion market.
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