In my blogging investigations into G4S, I noticed that G4S International appear as one of the 'Ordinary Members' of the London Bullion Market Association.
The company appear among members who are comprised nearly entirely of banks - big banks. For banks to be members of a market concerned with trading gold bullion is perfectly natural, because it is within the vaults of such banks that gold is held and stored.
G4S International, on the other hand, are meant to be merely a security firm who are responsible for the safe and secure transfer of gold bullion. They are not, as far as I know, meant to be 'traders' in gold bullion in any other sense than it is this company which does the literal moving of gold, as well as diamonds. In March of this year, Deutsche Bank teamed and up with G4S to establish a new vault for the storage of precious metals in the UK.
Like I'm saying, I'm just wondering whether it is unusual for a security firm to be ordinary members of the London Bullion Market Association, or for that to be as perfectly natural as the gold which is traded.
2 comments:
As the site description says when searching for LBMA in duckduckgo -
"Association of banks, fabricators, refiners, shippers and brokers involved in precious metals trading in London."
So yes, it's not unusual.
Try Anne Barnhardt, Catholic blogger and former commodities broker. She seems very knowledgeable on commodities and financial markets.
Post a Comment