The London Bullion Market Association Thursday launched the 'Global Precious Metals 

Code'  in  a  bid to bring more transparency to the over-the-counter gold market in face 

of tightening regulation. 

"The code is intended to define a robust, fair, effective and transparent market where a

ll participants are able to transact following best practice guidelines,"the LBMA said in a 

note to clients. 

It sets out a common set of principles to promote the integrity and effective functioning o

f the global market covering ethics, governance, compliance and risk management, infor

mation sharing and business conduct, according to the trade body. 

All market participants involved in the global wholesale precious metals market are expec

ted to act according to the new mandate.