London Precious Metals Clearing Limited — home page ("Welcome to the LPMCL")

 In July 2026, a net daily average of $64.5 bn of gold was cleared.  In July 2026, a net daily average of $10.9 bn of silver was cleared. # Welcome to the LPMCL LOCO LONDON is the indisputable international standard for gold, silver, platinum and palladium dealing and settlement. In this context, Loco London simply refers to the fact that London is the location where precious metals are physically held and settled. The metal leg of much of the global ‘over-the-counter’ precious metal trading is cleared through the London clearing system, managed by the London Precious Metal Clearing Limited (LPMCL), which operates a central electronic metal clearing hub, with deals between parties throughout the world settled and cleared in London. The fact that many Government Institutions and Central Banks entrust their gold to the Bank of England, and in some instances with the London clearing commercial banks, underlines the confidence that exists in London as the key marketplace for precious metal trading. ## Members of the LPMCL      ## Latest news [](https://www.lpmcl.com/news/london-gold-and-silver-vault-data-for-august-2026) ### London Gold and Silver Vault Data for August 2026 Read about the latest gold and silver stocks held in London vaults for August 2026. Find out more [](https://www.lpmcl.com/news/lbma-net-clearing-data-daily-averages-july-2026) ### LBMA Net Clearing Data (Daily Averages): July 2026 Our clearing data represents the net volume of transfers of gold and silver physically held in London – known as Loco London. Find out more [](https://www.lpmcl.com/news/london-gold-and-silver-vault-data-for-july-2026) ### London Gold and Silver Vault Data for July 2026 Read about the latest gold and silver stocks held in London vaults for July 2026. Find out more ## Page shell (navigation, sharing links and footer as captured; not part of the document) ### Before the document text # London Precious Metals Clearing Limited - [History](https://www.lpmcl.com/history) - [Loco London / Clearing](https://www.lpmcl.com/loco-london-clearing) - [About Us](https://www.lpmcl.com/legal-agreements) - [Members](https://www.lpmcl.com/members) - [Membership Application](https://www.lpmcl.com/membership-application) - [Definitions](https://www.lpmcl.com/definitions) - [News](https://www.lpmcl.com/news) - [Terms of Reference](https://www.lpmcl.com/loco-london-clearing/terms-of-reference-for-the-lpmcl-board) ### After the document text © 2026 - London Precious Metals Clearing Ltd - All Rights Reserved [Contact Us](/contact) [Privacy/Legal Information](/privacy)