As at end February 2025, the amount of gold held in London vaults was 8,477 tonnes (a 0.68% decrease on previous month), valued at $772.5 billion, which equates to approximately 687,142 gold bars.
There were also 22,462 tonnes of silver (a 4.5 % decrease on previous month), valued at $22.5 billion, which equates to approximately 748,738 silver bars.
While stocks in the Bank of England declined by a similar pace to that seen in January, gold stocks in London’s commercial vaults in fact increased - in contrast with the trend seen last month. This highlights that gold is moving from BoE into the Loco London system but also shows that the market dynamics that led to gold travelling to NY in recent months have somewhat eased. Silver outflows were slightly less than half in February compared to January.
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.
For more information on London vault data, please visit the LBMA website. If you have any questions relating to this month's data, please email ask@lbma.org.uk.