London has replaced Amsterdam as the world''s largest gold market since Britain defeated the Dutch in the 17th century.


    Even after more than 200 years, the British economy was gradually overtaken by the United States and other countries, but in the next more than a century, London still stubbornly maintained the crown of the world''s largest gold market, which can be regarded as guarding the last afterglow of the "empire of the sun never setting".


    Now, however, the afterglow may also be gone, with New York taking the crown of the largest gold market.


    In London gold market, gold trading is mainly completed by market makers headed by five gold merchants. Different from the exchange model represented by the U.S. gold market, gold trading in the London exchange is mainly through centralized matchmaking.


    The market maker mode is that each market maker quotes the purchase price and selling price according to their own strength and operation status. The transaction is more flexible. The purity, weight and delivery place of gold can be selected by customers.


    Due to the over-the-counter trading in London gold market, the specific trading volume has not been accurately counted, so it can only be roughly estimated by monthly clearing data.


    The London gold exchange has always boasted higher trading volume than clearing data, boasting that it is the world''s largest gold market.


    However, during the financial crisis, with the increasing demand for transparency of the London gold market and more data outlining the real size of the market, traders found that the spot gold market was far less than expected.


    According to the current gold price, London trades about 30 million ounces of gold a day, or nearly 940 tons.


    Given that the total amount of gold produced by mines around the world is about 3000 tons per year, that is to say, the average daily gold trading volume in London is close to one third of the annual production.


    This number is not low, but by contrast, the daily trading volume of gold futures in New York is more than half of the global annual production, equivalent to at least 450 tons more trading volume per day than London.


    Of course, even if it is overtaken by New York, the importance of the London gold market has not diminished.


    After all, according to the data, 63% of gold trading on the London market is for spot trading, 31% for swap or forward trading, and the remaining 6% for options and leasing.


    This means that the London gold market still plays an important role in physical gold trading.


    In contrast, although the New York market is larger, it is dominated by derivatives trading and physical delivery is negligible.


    From the perspective of the impact on physical gold, the London gold market may not be as large as previously expected, but it is as important as always thought.


    In 2004, the investment bank of London, the Bank of London, the Bank of London, the Bank of London, the Bank of London, the Bank of London, the Bank of London, the Bank of London, the Bank of London, the Bank of London.


    London gold, in short, is a narrow term for 99.5% pure 400 oz gold bricks stored in the underground vault of the city of London. In a broad sense, London gold refers to all the spot gold traded.


    According to the current exchange rate, a pound can be converted into $1.633 and $57.155 million. According to the current gold price of 986 US dollars, 57900 ounces can be purchased and a total of 57.09 million US dollars will be spent.


    Looking at the account from 35 million pounds to 60000 dollars, Arthur''s mood is really indescribable.


    In London gold trading, investors don''t have to extract the physical gold, which saves the transportation, storage, inspection, identification and other steps of gold. The difference between the buying price and the selling price is smaller than the difference between the real gold trading. In addition, some companies do not charge customers any commission and handling charges, further reducing the investment cost of investors.


    In less than ten minutes, the genuine pound sterling was replaced by a pile of documents in his hand. Arthur felt that the paper bag in his hand was a little light, but his heart was a little heavy.


    When he didn''t see the real gold, Arthur always felt empty in his heart. Therefore, he wanted to go to the underground vault of the bank. However, the bank couldn''t agree to this request. They didn''t dare to offend big customers like Arthur, so they had to ask the bank''s vault manager to explain to Arthur in person.


    "Only a small part of gold is stored here. Besides the Bank of England and chase, the gold reserve of our bank is the third largest gold reserve warehouse in the world. The gold warehouse has always been private, and the confidentiality work has been done very well. So far, no one knows where it is. Ha ha, the outside world even doubts whether it exists.


    Your gold is safe there. You can rest assured...... "


    the bank''s vault manager, smiling and placing a black suitcase on the table, explained to Arthur.


    Under Arthur''s curious gaze, the other party opened the black suitcase, which contained a file bag, two blue velvet bags with Bank logo, and two white gloves.


    The smiling bank manager first opened the file bag, then respectfully handed a pile of photos inside to Arthur, explaining: "this is a picture of our underground vault. You can see that there are 80 gold bricks on each wooden shelf, 12.5 kg each. In other words, each wooden shelf is a ton of gold.This is melinstein Lee, spokesman for the World Gold Council


    Arthur looked at the pictures of the vault in his hand. The whole underground vault was like an underground parking lot. The cuboid was built with wooden boards, and the shelves were stacked with yellow gold bricks. The scale of the vault was astonishing.


    "At current prices, there is $18 billion worth of gold here. I believe these records can prove that our bank''s gold warehouse in the UK is indeed real The bank vault manager also has a humorous self mockery.


    Arthur could only agree to shake his head and laugh, then put down the photo and said, "I trust your bank, otherwise I would not choose your bank to buy physical gold."


    "Thank you for your trust." Said the bank manager, leaning back slightly with a professional smile, and then handed Arthur a pair of white gloves, which he picked up and put on himself.


    He took a velvet bag from the suitcase, pulled the knot, and took out a gold brick. Arthur looked at the gold brick in his hands, and his eyes suddenly brightened, suppressing the small excitement in his heart.


    It has to be said that gold is really a good thing. Even if Arthur has tens of millions of worth, he still has an impulse to take it in his hand and have a good look at it.


    The bank manager held the gold brick in his hands and handed it to Arthur, who had a hot look. He said with a smile, "this kind of gold brick is all printed with the number and the emblem of the processor. The earliest meaning of hallmark in English is this kind of emblem on the gold brick.


    Through the number of each brick, the brick can be registered in the name of all people, which is called allocated. If this kind of brick is to be traded, it must be found out in the basement for delivery. It is very inconvenient


    Then the other party opened another velvet bag, took out another piece of gold brick from it, handed it to Arthur and introduced it to him: "therefore, there are such bricks that can be traded in the market. Most of them are anonymous registered ones. This kind of bricks can be delivered without checking the number. If the number of bricks is correct, it can be delivered."


    Arthur compared the two gold bricks in his hand. At the same time, his heart was also very disheartened. He couldn''t help it. The metal of gold is so obsessed.


    Gold is the "touchable sun." In Latin, gold is "shining dusk". No matter who they are, they like to decorate themselves with gold and decorate their lives. No one in the world will be indifferent to gold, not obsessed with it, or advocate it.


    Gold has become a means for people to show their dignity and wealth. The rich and powerful people made gold into daily necessities, and some even made gold into weapons.


    Looking at the two gold bricks in his hand, Arthur fell into a tangle. He had the impulse to exchange some gold bricks and take them home to have a good time. However, his reason soon suppressed this unreliable impulse.


    After all, the safekeeping, inspection and identification of gold are too troublesome, especially when it is kept at home. Instead of being careful all day and worrying about security issues, it is undoubtedly the most correct choice to keep it in the bank.


    Taking care of himself, Arthur calmly handed the two gold bricks to the bank manager and said, "thank you."


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