India to stop using LBMA pricing

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India's markets regulator on Thursday directed mutual funds to use domestic stock exchange spot prices to value their physical gold and silver holdings from April 1, 2026.

The Securities and Exchange Board of India (SEBI) said mutual funds may now use polled spot prices from recognized stock exchanges that settle physically delivered gold and silver derivatives contracts, ensuring that valuations reflect domestic market conditions.

The change moves away from the currently used London Bullion Market Association prices to arrive at the valuation of gold and silver held by exchange traded funds.
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