As at end August 2022, the amount of gold held in London vaults was 9,565 tonnes (a 0.54% decrease on previous month), valued at $527.7billion, which equates to approximately 765,194 gold bars. The ratio of gold held at the Bank of England versus the commercial vaults is the lowest since reporting started in July 2016.
There were also 28,506 tonnes of silver (a 3.62% decrease on previous month), valued at $16.4billion, which equates to approximately 950,208 silver bars. This is the lowest amount of silver held in the vaults since reporting started in July 2016.
These figures provide an important insight into London’s ability to underpin the physical OTC market.
The publication on the fifth business day of each month of the amount of gold the London vaults were holding at the end of the previous month follows the recent move to publish the equivalent data for silver. It represents a continued move towards greater transparency and timeliness.