How We Source Our Precious Metals Pricing Data — And Why It Matters
Learn how The Bullion Safe uses LBMA benchmark pricing data dating back to 1968 to power our historical price charts for gold, silver, platinum, and palladium.
Why Pricing Data Matters
When you are buying or selling precious metals, knowing the true market price is everything. A few pounds per ounce can make a significant difference on a large purchase, and understanding long-term price trends helps you make better timing decisions.
That is why we have invested in sourcing our pricing data from the most respected authority in the precious metals industry — the London Bullion Market Association (LBMA).
What Is the LBMA?
The LBMA is the international trade association that represents the London wholesale over-the-counter (OTC) market for gold, silver, platinum, and palladium. Founded in 1987, the association has its roots in a market that has been operating in London for over three centuries.
The LBMA Gold Price (formerly known as the London Gold Fix) has been the world's most widely used benchmark for gold pricing since 1919. It is used by:
- Central banks around the world for reserve valuation
- Mining companies for contract pricing
- Refiners and fabricators for trade settlement
- Bullion dealers for retail pricing
- Financial institutions for derivatives and ETF pricing
When someone refers to "the gold price" in a professional context, they almost always mean the LBMA price.
Our Data Sources
Historical Charts
Our historical price charts are powered directly by LBMA benchmark data:
| Metal | Data Available From | Source |
|-------|-------------------|--------|
| Gold | April 1968 | LBMA PM Fixing |
| Silver | January 1968 | LBMA Silver Price |
| Platinum | April 1990 | LBMA PM Fixing |
| Palladium | April 1990 | LBMA PM Fixing |
This gives you over 55 years of gold and silver price history and over 35 years of platinum and palladium data — all in native GBP, not converted from USD.
The LBMA PM fixing price is used because it is the most widely referenced benchmark, set each afternoon at 3:00 PM London time through an electronic auction process administered by ICE Benchmark Administration.
Live Spot Prices
For real-time pricing throughout the trading day, we use:
- GoldPriceZ — Live gold and silver spot prices
- MetalPriceAPI — Live platinum and palladium spot prices
These update every 15 minutes during market hours, giving you a current snapshot of where the market is trading right now.
Why GBP Matters for UK Buyers
Most global precious metals pricing is quoted in US Dollars. However, if you are buying or selling in the UK, what matters is the GBP price. Currency fluctuations between the pound and dollar can significantly affect the effective price you pay.
Our LBMA data includes native GBP pricing — these are not converted from USD using exchange rates. They are the actual GBP prices from the London fixing, which means they accurately reflect what the metals were trading at in pounds on that day.
Understanding Our Charts
When you visit our Prices page, you can view price data across multiple timeframes:
- Live and Today — Real-time spot prices updated throughout the day
- 1 Week to 1 Year — Recent price movements for short-term analysis
- 5 Year to 50 Year — Long-term trends for strategic investment decisions
- All — The complete available history for each metal
You can also view the Gold-Silver Ratio, which shows how many ounces of silver it takes to buy one ounce of gold. This ratio is a tool used by experienced stackers to decide when to favour one metal over another.
Price Alerts
We also offer a price alert system that monitors the market and sends you email notifications when your chosen conditions are met. You can set alerts based on:
- Percentage drops — Get notified when a metal drops by a certain percentage over a time period
- Target prices — Set a specific price point you want to be alerted about
Price alerts are available to all users and do not require an account — just your email address.
Our Commitment to Transparency
We believe that transparent, reliable pricing data builds trust. By using the LBMA — the same benchmark used by the world's largest banks and institutions — we ensure that every price you see on The Bullion Safe reflects the true market value.
If you have any questions about our pricing data, check our FAQ or reach out through the community forum.