The London gold market

Quarterly Bulletin 1964 Q1
Published on 01 March 1964

London is the largest and most important gold market in the world. Its origins lie not too clearly defined in the history of the development of London as a financial centre. The firm of Mocatta and Goldsmid was founded in 1684, ten years before the granting of the Bank of England's Royal Charter. It was not until the nineteenth century, however, that London achieved its eminence, both for the refining and marketing of gold bullion and also for the exchange and disposal of gold coins of various countries. That eminence was in fact achieved before the discoveries of gold in Australia and South Africa, which made London's position ultimately even stronger.

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