As at end November 2022, the amount of gold held in London vaults was 9,169 tonnes (a 1.5% decrease on previous month), valued at $518.7 billion, which equates to approximately 733,527 gold bars.There were also 26,138 tonnes of silver (a 1.4% decrease on previous month), valued at $18.1 billion, which equates to approximately 871,257 silver bars. This is, again, 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.