Gold has an official price, set twice a day in London. It is called the LBMA Gold Price, and it is used as a benchmark around the world. This article explains when and how it is set, who runs the process, and how it relates to the price you see moving on your MT5 chart.
10:30 and 15:00 London time
The LBMA Gold Price is set at two auctions each business day, at 10:30 and 15:00 London time. The auctions are run by ICE Benchmark Administration. In each one, participants submit buy and sell orders and the price is adjusted until the two sides balance. The result is published and used as a benchmark worldwide. Two numbers a day, AM and PM, that the whole industry can refer to.
Trading never really stops
The price you see on MT5 is not the auction price. It moves almost around the clock on weekdays, driven by continuous trading across the globe. The auctions are reference points within that flow: two moments a day when a single official number is fixed. Between them, the live price can and does move a long way.
Why a trader should know this
Knowing the auction times explains why news reports quote an AM and PM gold price, and why those numbers may differ slightly from what your chart shows at that moment. For your trades, the live MT5 price is what matters, along with the entry, stop-loss and take-profit set for each idea. Learning how gold is priced is part of trading it well, and our live sessions cover questions like this one.
Key takeaways
- The LBMA Gold Price is set at 10:30 and 15:00 London time
- ICE Benchmark Administration runs the auctions
- The live MT5 price moves almost around the clock on weekdays
Common questions
What is the LBMA Gold Price?
It is the official benchmark price for gold, set twice each business day in London through auctions run by ICE Benchmark Administration.
Is the gold price on MT5 the same as the LBMA price?
No. MT5 shows a live price that moves almost around the clock on weekdays. The LBMA auctions are fixed reference points at 10:30 and 15:00 London time.
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