London Fix Sets Benchmark for Unallocated Gold Delivered in London

The London Fix, now known as the LBMA Gold Price, is the benchmark for unallocated gold delivered in London. This definition comes directly from the London Bullion Market Association (LBMA), not from its critics.

In an unallocated gold account, you don't own specific bars; instead, you have a general claim against the institution's metal pool. If the institution holding your gold fails, you're treated as an unsecured creditor, not as the owner of physical bars.

Allocated account holders keep their specific bars in an insolvency, whereas unallocated holders join the general creditor queue. Allocated, segregated storage held outside the banking system removes counterparty risk from gold ownership entirely.