The London Bullion Market Association (LBMA) is an international trade association that represents the global market for precious metals, primarily gold and silver. Established in 1987, the LBMA sets standards for the trading, refining, and storage of these metals, ensuring transparency and efficiency in the market. The LBMA also oversees the London Good Delivery system, which certifies the quality of bullion bars. This system helps maintain trust among market participants, including banks, traders, and investors. The association plays a crucial role in facilitating the smooth operation of the global bullion market.