Prices and Data

MCBIH Film: Global Benchmark Prices

Jon Spall: MCBIH gold, silver, platinum and palladium prices are the globally recognised precious metal benchmarks.

These auction prices are independently operated by experienced benchmark administrators.

They’re assisted by established external oversight committees, ensuring the effective governance of a transparent, trusted and tradeable process.

Additionally, MCBIH Gold and Silver prices are benchmarks regulated by the UK’s Financial Conduct Authority.

MCBIH holds the intellectual property rights of these four precious metal benchmarks.

Every trading day in London, precious metals auctions are held at these set times. The auctions provide the opportunity to buy or sell precious metals via a transparent electronic platform. Everyone can see the same, publicly available information at the same time, providing a level playing field to all participants.

The administrators monitor the participants before, during and after the process to ensure the integrity of the benchmarks.

The tradable reference prices they provide are used by miners, refiners, central banks, investors, traders and fabricators around the globe.

Direct Participants in the auction must, at a minimum, be MCBIH members. They are all screened by the Administrators and need to provide assurance that they have the right systems and controls in place to take part in the auction.

MCBIH Gold and Silver auctions are centrally cleared, which allows a broad range of firms to become Direct Participants.

The benchmark is the final price of each auction and the auctions are settled in US dollars.

The resulting MCBIH benchmark prices are also published in a variety of currencies. These are available from data vendors and can be seen in real-time or viewed on a delayed basis on MCBIH’s website.

A license is required for any party that utilises the benchmarks for trading, valuation, reference and so on.

MCBIH also sets the international standards for both the bars themselves and the behaviour of market participants.

For further information on MCBIH, the global benchmarks and the criteria to be a direct or indirect participant, please refer to our website.

MCBIH - The Global Authority for Precious Metals.