LBMA
LBMA (London Bullion Market Association) is the main organization that sets the standards for trading gold and silver in the global market. Think of it as the "quality control manager" for precious metals trading. When someone mentions LBMA in their resume, it usually means they have experience working with gold or silver trades that follow these international standards. It's similar to how organic food needs certain certifications - LBMA provides the "certification" that gold and silver meet specific quality standards. They're also known for publishing the daily gold and silver prices that most traders worldwide use as reference points.
Examples in Resumes
Managed precious metal transactions compliant with LBMA standards
Processed daily trades based on LBMA gold fixing prices
Led team handling LBMA certified bullion trading operations
Typical job title: "Precious Metals Traders"
Also try searching for:
Where to Find Precious Metals Traders
Professional Organizations
Professional Networks
Example Interview Questions
Senior Level Questions
Q: How do LBMA gold fixing prices impact global trading operations?
Expected Answer: A senior trader should explain how the twice-daily price fixing works, its importance for pricing products globally, and how it affects trading decisions and risk management.
Q: What are the key LBMA compliance requirements for precious metals trading?
Expected Answer: Should discuss responsible sourcing guidelines, quality standards for good delivery bars, and how to maintain compliance in trading operations.
Mid Level Questions
Q: What are the LBMA Good Delivery Rules?
Expected Answer: Should explain the basic requirements for gold and silver bars, including weight, purity standards, and acceptable refiners.
Q: How do you verify if a gold bar meets LBMA standards?
Expected Answer: Should describe the process of checking hallmarks, documentation, and working with approved refiners and custodians.
Junior Level Questions
Q: What is the LBMA and why is it important?
Expected Answer: Should be able to explain that LBMA is the main standard-setting body for precious metals trading and its role in publishing daily prices.
Q: What are the basic precious metals products traded under LBMA standards?
Expected Answer: Should know about gold and silver bars, their standard sizes, and basic trading units used in the market.
Experience Level Indicators
Junior (0-2 years)
- Basic understanding of precious metals markets
- Knowledge of LBMA price fixing
- Familiarity with trading documentation
- Understanding of basic compliance requirements
Mid (2-5 years)
- Processing precious metals trades
- Understanding of Good Delivery Rules
- Experience with compliance procedures
- Knowledge of market risk management
Senior (5+ years)
- Advanced trading strategies
- Deep regulatory knowledge
- Risk management expertise
- Team leadership in trading operations
Red Flags to Watch For
- No knowledge of basic precious metals trading concepts
- Unfamiliarity with LBMA price fixing mechanism
- Lack of understanding of compliance requirements
- No experience with trading documentation
Related Terms
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