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6. Good Delivery – Platinum and Palladium | LBMA Find out more Register for the Global Precious Metails Conference in Sorrento, Italy Global Global 中文網站 Contact About About About LBMA Our Team LBMA Board Independent Decision-Making Committee LBMA Sub-Committees Origins of the London Bullion Market History of Global Trade in Bullion Member login Market Standards Market Standards As the independent authority for precious metals, we set standards that uphold trust in the global market. Market Overview About Loco London A Guide to the Loco London Precious Metals Market Training and Education Our Standards Market Standards Global Precious Metals Code Good Delivery Responsible Sourcing Incident Review Process Regulation Resources Financial Regulation Due Diligence Regulation REACH Review Process Case Studies HQLA WGC and LBMA Launch Joint HQLA Website Gold and HQLA: Correcting Misleading Online Information LBMA Precious Metals Market Report Read about the latest quarter in the precious metals market Read now Membership Membership LBMA Membership demonstrates a commitment to uphold global standards within the precious metals market. Overview About Membership Current Members Rules for Members Become a Member How to Join Membership Eligibility Membership Benefits LBMA Subscriber Membership FAQs Already a Member? Login to stay updated with LBMA Member news and events Log in here Good Delivery Good Delivery The standard trusted around the world, Good Delivery guarantees metal quality in the market. LBMA owns and manages the Good Delivery Lists for both gold and silver. Overview About Good Delivery Good Delivery Rules and Governance Good Delivery FAQs Lists Good Delivery Current List Data Good Delivery Former List Data Russian Good Delivery Bars Information Application Process How to apply for Good Delivery accreditation Advancing Standards Proactive Monitoring Proficiency Testing Scheme Resources Reference Materials Vault Operators Training Visual Guide Physical Market Guidelines Past Assaying and Refining Conferences Good Delivery Newsletters GBI Gold Bar Security Features Gold Bar Integrity Ecosystem GDL Newsletter Read the latest newsletter from our Good Delivery team on Committee updates, refinery visits and more Read now Responsible Sourcing Responsible Sourcing All LBMA Good Delivery List Refiners must adhere to our Responsible Sourcing Programme. With annual independent auditing and public reporting, the Programme builds global demand for responsible sourcing. Overview Responsible Sourcing Approved Assurance Providers Overview Approved Assurance Providers LBMA's ASM Initiative Guidance & Tools Guidance Documents Refiners Toolkit Consultations Public Consultation: Responsible Gold Guidance Version 10 Disclosure Guidance Version 3 Resources International Bullion Centre Recommendations Introductory Training Module Responsible Sourcing FAQs Reporting Country of Origin Data Sustainability and Responsible Sourcing Reports Responsible Sourcing Newsletters Review Process Case Studies LBMA Position on the North Mara Mine Claim Supporting Pathways for Responsible ASM LBMA’s new report explores the progress made between 2022-2025 to help build the foundations for greater inclusion of responsibly sourced ASM gold in formal supply chains. Read now Responsible Gold Guidance V10: Public Consultation RGG10 draws on implementation experience since the introduction of V9, developments in responsible sourcing practice, and LBMA’s commitment to continuous improvement. Discover more Responsible Sourcing Newsletter Summit discussions moved from dialogue to action, LBMA held its first in-person IBC roundtable, and a public consultation is launched on RGG10. Read now Pricing & Data Pricing & Data View information about LBMA prices and data. Overview About LBMA Daily Auction Prices LBMA Gold Price LBMA Silver Price LBMA Platinum and Palladium Price Clearing Vaulting Data LBMA Precious Metal Prices LBMA Daily Trade Reporting Data Clearing Data London Vault Data Value Dates Country of Origin Data LBMA Responds to PRA Consultation Paper: Modernising the Liquidity Policy Framework LBMA supports the PRA’s focus on liquidity usability, including monetisation speed, operational readiness and access to Bank of England liquidity. Discover more News News Read the latest news, publications and resources which outline our key initiatives. News and Resources Newsroom Alchemist Publications LBMA Annual Precious Metals Forecast Survey Centenary of the LBMA Gold Price Wonders of Gold Press Page IBA to Administer LBMA Platinum and Palladium Price Benchmarks from 1 July 2026 A licence from IBA is required in order to obtain, use or redistribute real-time or historical LBMA Platinum and Palladium Price data from that date. Find out more LBMA in Singapore: Strengthening Asia's Role in the Global Gold Market The 2026 Asia Pacific Metals Conference underlined Asia’s growing importance in global precious metals and the need for trusted, resilient and better-connected markets. Read more Events Events Read the latest news, upcoming events and resources. Events and Webinars Upcoming Events Past Events Webinar Series Standards of Conduct at LBMA Events Global Precious Metals Conference 2026 Join us in Sorrento where we will be delivering world class insight, networking and debate, while celebrating a landmark 25 years of this flagship event. Register now Conference 2026 Market Standards Market Standards As the independent authority for precious metals, we set standards that uphold trust in the global market. Market Overview About Loco London A Guide to the Loco London Precious Metals Market Training and Education Our Standards Market Standards Global Precious Metals Code Good Delivery Responsible Sourcing Incident Review Process Regulation Resources Financial Regulation Due Diligence Regulation REACH Review Process Case Studies HQLA WGC and LBMA Launch Joint HQLA Website Gold and HQLA: Correcting Misleading Online Information LBMA Precious Metals Market Report Read about the latest quarter in the precious metals market Discover more Membership Membership LBMA Membership demonstrates a commitment to uphold global standards within the precious metals market. Overview About Membership Current Members Rules for Members Become a Member How to Join Membership Eligibility Membership Benefits LBMA Subscriber Membership FAQs Already a Member? Login to stay updated with LBMA Member news and events Discover more Good Delivery Good Delivery The standard trusted around the world, Good Delivery guarantees metal quality in the market. LBMA owns and manages the Good Delivery Lists for both gold and silver. Overview About Good Delivery Good Delivery Rules and Governance Good Delivery FAQs Lists Good Delivery Current List Data Good Delivery Former List Data Russian Good Delivery Bars Information Application Process How to apply for Good Delivery accreditation Advancing Standards Proactive Monitoring Proficiency Testing Scheme Resources Reference Materials Vault Operators Training Visual Guide Physical Market Guidelines Past Assaying and Refining Conferences Good Delivery Newsletters GBI Gold Bar Security Features Gold Bar Integrity Ecosystem GDL Newsletter Read the latest newsletter from our Good Delivery team on Committee updates, refinery visits and more Discover more Responsible Sourcing Responsible Sourcing All LBMA Good Delivery List Refiners must adhere to our Responsible Sourcing Programme. With annual independent auditing and public reporting, the Programme builds global demand for responsible sourcing. Overview Responsible Sourcing Approved Assurance Providers Overview Approved Assurance Providers LBMA's ASM Initiative Guidance & Tools Guidance Documents Refiners Toolkit Consultations Public Consultation: Responsible Gold Guidance Version 10 Disclosure Guidance Version 3 Resources International Bullion Centre Recommendations Introductory Training Module Responsible Sourcing FAQs Reporting Country of Origin Data Sustainability and Responsible Sourcing Reports Responsible Sourcing Newsletters Review Process Case Studies LBMA Position on the North Mara Mine Claim Supporting Pathways for Responsible ASM LBMA’s new report explores the progress made between 2022-2025 to help build the foundations for greater inclusion of responsibly sourced ASM gold in formal supply chains. Discover more Responsible Gold Guidance V10: Public Consultation RGG10 draws on implementation experience since the introduction of V9, developments in responsible sourcing practice, and LBMA’s commitment to continuous improvement. Discover more Responsible Sourcing Newsletter Summit discussions moved from dialogue to action, LBMA held its first in-person IBC roundtable, and a public consultation is launched on RGG10. Discover more Pricing & Data Pricing & Data View information about LBMA prices and data. Overview About LBMA Daily Auction Prices LBMA Gold Price LBMA Silver Price LBMA Platinum and Palladium Price Clearing Vaulting Data LBMA Precious Metal Prices LBMA Daily Trade Reporting Data Clearing Data London Vault Data Value Dates Country of Origin Data LBMA Responds to PRA Consultation Paper: Modernising the Liquidity Policy Framework LBMA supports the PRA’s focus on liquidity usability, including monetisation speed, operational readiness and access to Bank of England liquidity. Discover more News News Read the latest news, publications and resources which outline our key initiatives. News and Resources Newsroom Alchemist Publications LBMA Annual Precious Metals Forecast Survey Centenary of the LBMA Gold Price Wonders of Gold Press Page IBA to Administer LBMA Platinum and Palladium Price Benchmarks from 1 July 2026 A licence from IBA is required in order to obtain, use or redistribute real-time or historical LBMA Platinum and Palladium Price data from that date. Discover more LBMA in Singapore: Strengthening Asia's Role in the Global Gold Market The 2026 Asia Pacific Metals Conference underlined Asia’s growing importance in global precious metals and the need for trusted, resilient and better-connected markets. Discover more Events Events Read the latest news, upcoming events and resources. Events and Webinars Upcoming Events Past Events Webinar Series Standards of Conduct at LBMA Events Global Precious Metals Conference 2026 Join us in Sorrento where we will be delivering world class insight, networking and debate, while celebrating a landmark 25 years of this flagship event. Discover more Global Global Global 中文網站 Contact About About About LBMA Our Team LBMA Board Independent Decision-Making Committee LBMA Sub-Committees Origins of the London Bullion Market History of Global Trade in Bullion Member login A Guide to the Loco London Precious Metals Market 6. Good Delivery – Platinum and Palladium Contents A Guide to the Loco London Precious Metals Market Editor's Note Chief Executive’s Foreword 1. Introduction 2. London Bullion Market Association 3. London Platinum and Palladium Market 4. The Price 5. London Good Delivery – Gold and Silver 6. Good Delivery – Platinum and Palladium 7. London Precious Metals Clearing Limited 8. Precious Metal Accounts 9. Lending and Borrowing Metal 10. Options 11. Precious Metal Benchmarks 12. Bank of England 13. Futures Markets and Exchange 14. Physical Metal 15. Documentation 16. Market Regulation 17. Taxation 18. Conversion Table 19. Key Facts about Precious Metals 20. Clearing Statistics 21. Market Trade Statistics 22. Central Bank and Governmental Ownership of Gold 23. Properties of Precious Metals 24. Frequently Asked Questions 25. Annexes 26. Disclaimer Download A primary function of the LPPM is its involvement in the promotion of refining standards by maintenance of the LPPM Good Delivery List and a regime of Proactive Monitoring whereby refiners on the LPPM Good Delivery List have their assaying ability independently tested, under a continuous three-year rolling programme, in addition to being required to provide the LPPM, in confidence, with certain production and financial data. layout/blocks/body/_text --> A selection of ingots Refiners of platinum and palladium have to satisfy the Management Committee of the LPPM in order to be accepted onto the Good Delivery List. LPPM Good Delivery accreditation has become the internationally accepted standard of product and refinery quality. Given the status that Good Delivery has attained, both the LBMA and the LPPM take very seriously the assessment for inclusion in their Good Delivery Lists. The ongoing review and maintenance of the Good Delivery Lists is one of the core functions of both organisations. The LPPM Rules for Good Delivery are for both Loco London and Loco Zurich and the current (as of July 2017) specifications are listed below. Please see the full details for the most up-to-date Good Delivery Rules . layout/blocks/body/_text --> Platinum Plate or Ingot Form Plate or Ingot Weight The maximum weight permitted is 6 kilograms (192.904) troy ounces. The minimum weight permitted is 1 kilogram (32.151 troy ounces) Purity At least 99.95% platinum Markings Each plate or ingot must bear: The producer’s recognised mark The letters PT or PLATINUM with a stamp indicating the purity An individual number or mark Year of manufacture The weight in grams, kilograms or troy ounces (if in grams to one decimal place, if in kilograms to four decimal places and if in troy ounces to three decimal places). Appearance Smooth, free from cavities and easy to handle layout/blocks/body/_text --> Palladium Plate or Ingot Form Plate or Ingot Weight The maximum weight permitted is 6 kilograms (192.904) troy ounces. The minimum weight permitted is 1 kilogram (32.151 troy ounces) Purity At least 99.95% palladium Markings Each plate or ingot must bear: The producer’s recognised mark The letters PD or PALLADIUM with a stamp indicating the purity An individual number or mark Year of manufacture layout/blocks/body/_text --> Weight The principle applied to the weighing of LPPM Good Delivery platinum and palladium plates or ingots is that the weight stamped on a plate or ingot should be the minimum weight. The producer/refiner should expect to be credited with the stamped weight, and for any subsequent physical movement of such plate or ingot out of the clearing system should also reflect the stamped weight on the relevant weight list. The LPPM however accepts that there can be minor differences in weighing equipment, and for practical and clarity purposes has set out the following rules: layout/blocks/body/_text --> Weight Stamping The weight in grams, kilograms or troy ounces (if in grams to one decimal place, if in kilograms to four decimal places and if in troy ounces to three decimal places). Rounding Weight lists shall be produced in troy ounces or converted from kilograms using the following formula, namely a standard conversion rate from kilograms to troy ounces of 32.1507465 to produce a five-decimal figure. If upon conversion to troy ounces the last two digits are 75 or greater, the third decimal place should be rounded up and if the last two digits are 74 or less, the third decimal in the troy ounce weight should remain unchanged. Weight Tolerance For plates/ingots dated 2014 or before, once the troyounce weight is established either by conversion or stamped on the plate/ingot, subsequent weighing tolerances shall be: Minus : 0.006 troy ounces Plus : no upward limit, the management of this upward limited is to be at the vault manager’s discretion. For plates/ingots dated 2015 and onwards, once the troy ounce weight is established either by conversion or stamped on the plate/ingot, subsequent weighing tolerances shall be: Minus : zero, the plate or ingot must weigh a minimum of the stamped weight Plus : no upward limit, the management of this upward limited is to be at the vault manager’s discretion. Appearance Smooth, free from cavities and easy to handle. layout/blocks/body/_text --> The Gate-Keepers It is worth noting that in addition to the above, a Good Delivery bar produced by an accredited refiner only becomes and continues to be London Good Delivery to the extent that the vault manager is willing to accept such a bar. The vault managers are precious metal experts who manage the vaults approved by the members of LPMCL and who have achieved LBMA Approved Weigher status (certified vaults are listed in the latest GDL Rules). Vault managers are the gate-keepers of the global OTC market and a Good Delivery bar only continues to be London Good Delivery to the extent that the vault manager has confirmed that the bar can be accepted into the London vault and thus into Loco London. Hence, they play a pivotal quality control role in maintaining and sustaining the Good Delivery standards across the market as metal moves in and out of their custody. They also play a quality assurance role in terms of the product invested in by the client whose metal is placed in their custody. More information is provided in section 7. Why London Good Delivery is Important Clearly, it is important for an investor to know that the bar of precious metal they have purchased is exactly what it purports to be – of the correct metal, weight and assay, and so on. However, only bars of the requisite size (as well as the other features listed above) can gain London Good Delivery status. So whilst a platinum or palladium plate or ingot complying with the weight specifications set by the LPPM, and meeting all the other listed requirements, can be considered to be Good Delivery, the same can never be true of a 1 ounce platinum or palladium bar. The key feature is that the Good Delivery List underpins the wholesale market. So if an investor is buying precious metals (be they held in allocated or unallocated accounts), the bars underlying those holdings are fungible. In other words, it is irrelevant whether the platinum was mined (and refined) in South Africa, Russia or North America, or indeed any other platinum-producing country, or if the bar was created out of scrap metal, obviously allowing for the fact that the metal meets the standards of Responsible Sourcing Guidance. layout/blocks/body/_related --> 5. London Good Delivery – Gold and Silver As mentioned in the introduction, the Bank of England formally recognised those refineries that produced gold bars to the required standard in 1750 via the London Good Delivery List for gold Find out more 7. London Precious Metals Clearing Limited LPMCL is at the heart of the Loco London (OTC) system, supporting the most widely traded global market for gold, silver, platinum and palladium Find out more Stay updated Register to access the latest LBMA news and events through our email alerts Register at MyLBMA LBMA About Us Membership Current Members Contact Us Our Team Newsroom MyLBMA Quicklinks Prices and Data LBMA Daily Trade Reporting Data Good Delivery Alchemist Events Responsible Sourcing A Guide to the Loco London Precious Metals Market 中文網站 © 2026 LBMA 7th Floor, 62 Threadneedle Street, London EC2R 8HP | LBMA Privacy Notice
