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Latest LBMA Data - Trade data and Clearing Vault data

Monday, August 03, 2020

LBMA Trade Data - Record Volumes in JULY 2020

The recent volume of gold traded has been exceptional, with a record high on 30 July, when 89.36 mn ounces of gold changed hands to a value of some $174bn; over 50% higher in value terms than the previous high. In 2020, the daily volume has averaged $62.7 bn. Trading activity was fueled in part by successive highs in the gold price in recent days, and also by surging volumes of swaps and forwards, which traders can use as a hedging mechanism.

LBMA Gold Price - Hits Record High in JULY 2020

In late July the LBMA gold price hit a succession of record highs, bursting through $1,900 on 24 July, and closing the month at $1,964.9 an ounce, 10% up on the month and 29% higher than at the start of 2020. In July the LBMA silver price was even more impressive with a whopping increase of 32% to close the month at $24.07 an ounce from an opening price at the beginning of the month of $18.22.

Daily Averages Gold Clearing Data- JUNE 2020

The volume of ounces transferred in June decreased by 7.7% month on month (m/m) to 20.6 m ounces, with the corresponding value 6.8% lower m/m to $35.7 bn. There were 4,211 transfers in June, up 8% m/m, with the clearers settling on average 4,892 ounces per transfer, 14.5% lower m/m.

Daily Averages Silver Clearing Data -JUNE 2020

The volume of ounces transferred in June fell 6.3% to 276.8 mn/oz with a surge in the price of silver during the month leading to the corresponding value transferred increasing by 2.3% m/m to $4.9 bn. The number of transfers in June fell 14.8% m/m to 1,895, with the clearers settling on average 146,088 ounces per transfer, 10% higher m/m.

The average gold / silver price ratio in June fell to 97.8, having hit a succession of record peaks earlier in the year.

Clearing data are published one month in arrears.

Record Value of Gold Stocks - Over $460 bn held in London Vaults - END APRIL 2020

As at end April 2020, there were 8,482 tonnes of gold, valued at a record high of $464.4 billion and 35,667 tonnes of silver, valued at $17.6 billion. This equates to approximately 678,595 gold bars and 1,188,898

The data represents the holdings of seven custodians offering vaulting services (all of which are LBMA members) and the Bank of England. The seven custodians comprise four security carriers (Brinks, G4S Cash Solutions (UK), Malca-Amit and Loomis International Ltd) and three clearing banks (HSBC, ICBC Standard Bank and JP Morgan). Also included are the gold holdings held at the Bank of England (not an LBMA member) which offers gold (but not silver) custodial services to central banks and certain commercial firms that facilitate central bank access to the liquidity of the London gold market. Those clearing members without their own vault operations - Scotiabank and UBS - utilise their accounts with one of the LBMA custodians or the Bank of England and therefore do not contribute to the statistics to avoid double accounting.

The historical monthly data series from July 2016, as well as other information on the London physical vault holdings can be found here on LBMA’s website.

The vault data is published monthly, three months in arrears.

Both the vault data and the clearing statistics are published on the first day of each month (in the event that the first day of the month is a UK Bank Holiday or falls on a weekend, the data will be published on the first business day of the month).

A full copy of the Press Release can be found here.