London gold is a trading product provided by the London International Financial Futures Exchange. It is a 400-ounce gold brick with 99.5% purity stored in the underground vault of the City of London. London International Financial Futures Exchange (LIFFE) officially opened in September, 1982, which is the earliest and most active financial futures exchange in Europe. Although the establishment of the exchange is ten years later than the earliest financial trading market in the United States, it is still of great significance to maintain London's position as a traditional financial center. There are at least three conditions for London gold trading. First, it is stored in London. The same gold bricks, stored in Zurich, become Zurich Gold, and stored in new york, become New York Gold. And the price of the same BRICS in London is different from that in other places. Why? There is freight. The most active spot gold in the international market is London gold. Second, the purity is not less than 99.5%. The gold purity of Shanghai Gold Exchange is 99.99% and 99.95%, which is higher than that of London gold. 3. The weight is 400 ounces (1 ounce = 31.1035g). Only 400 ounces (12.445438+04 kg) of bricks are good delivery bricks. 1 kg BRIC is not a qualified delivery variety. See the figure below. This is London gold in the underground vault of HSBC in London. You can see that there are 80 gold bricks on each wooden shelf, and the weight of each gold brick is 12.5 kg, that is, each wooden shelf is a ton of gold.