LBMA liaising with CME Group and US authorities on gold premium

Reuters | January 30, 2025 | 11:29 am Markets Europe USA Gold

The LBMA’s office in the heart of London. Credit: London Bullion Market Association

The London Bullion Market Association (LBMA) said on Thursday it is liaising with CME Group and US authorities on the significant premium of COMEX gold to the London market.

“The US gold market has been trading at a premium to the London market since the US presidential election result in late 2024. This happens from time to time in markets around the world,” the LBMA said.

London gold market stocks and liquidity remain strong, the association added.

US gold futures rose to an all-time high of $2,853.20 per ounce on Thursday, trading at a more than $50 premium to London spot prices, which hit a record high of $2,798.24 an ounce.

The CME Group and US Commodity Futures Trading Commission did not immediately respond to a request for comment.

(By Brijesh Patel; Editing by David Goodman and Mark Porter)