News: Our tools now use LBMA (international standard) prices for gold and silver

Gold/silver prices

بسم الله والحمد لله والصلاة والسلام على رسول الله

A number of our tools are dependent on the price of gold and silver (current and historical):

Until now, we have been using spot prices 5-6 times throughout the day. Though this has its advantages (continuous updates and updates are possible in the morning), yet we've planned to use standard prices as these are more accurate and closer to our vision of producing the most accurate prices for our visitors.

We have now changed supplier to use the internationally recognised standard prices for gold and silver as provided by The London Bullion Market Association (LBMA).

The LBMA Gold Price is updated twice a day at 10:30 (AM) and 15:00 (PM) London time.

The LBMA Silver Price is updated once a day at 12:00pm London time.

The prices are made available soon after, so updates take place twice a day:

  1. The first update is made at approximately 14:00 GMT/BST to allow for the silver price to be updated together with the gold AM price
  2. The gold price is then updated with the PM price at approximately 17:00 GMT/BST

We have also replaced all historical gold/silver prices with the London price fix and LBMA prices.

If the need arises, we may at a later date add a spot price update in the morning to cover the hours in the morning where the prices cannot be updated with the standard price.


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