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Silver Market

April 13, 2021

Spotlight on Silver Investment: LBMA Report

LBMA has launched its Spotlight on Silver Investment, a report which explores the key developments in silver investment over the last 12-18 months.

NSFR

LBMA Responds to PRA Consultation

Read the full response from LBMA and World Gold Council to the Prudential Regulation Authority (PRA) consultation paper on the implementation of Basel Standards and its impact on the precious metals market.

Data

LBMA Net Clearing Data: March 2021

Record Volume of Gold Stocks - 9,600 tonnes valued at more than $575 billion in London vaults, equal to approximately 764,741 gold bars. Data shows 5,446 transfers in March, 17% higher month-on-month.

Trade Data

LBMA Trade Data: Turnover Figures for Q1 2021

In a recent report, Rhona O’Connell (StoneX Financial Ltd) builds on the discussion at the LBMA trade data webinar in late February with an analysis of the data in the context of price action and market forces.

Responsible Sourcing

Harmonising Responsible Sourcing Standards

LBMA congratulates CME Group in its important decision to align responsible sourcing standards for silver, platinum and palladium effective from Thursday, 3 May 2021

Data

Record Stocks of Silver in London Vaults - End March 2021

Record stock of silver held in London vaults with a total of 38,859 tonnes as at end March – an 11% increase on the last month, equal to approximately 1,259,310 silver bars.

Gold Market

Q1 2021: A Slow Start To The Year

For the first time since Q1 2015, when the price dropped by 1.02%, gold opened the year with a losing quarter, falling 10.58% to finish March 2021 at $1691.05.
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Latest prices

Clearing Data

Daily average for March month 2021

Gold $34.3 bn

Silver $6.75 bn

London Vault Holdings

End March 2021

Gold 9,461t

Silver 38,859t

LBMA Trade Data

12 week moving average value of trades for the period ending 28 March, 2021.

Gold $313 bn

Silver $60.2 bn

View all data

LBMA Events

LBMA Webinar

13 May 2021 12:00 BST

Indian Gold Demand

Join us on Thursday, 13 May as host, Jeremy East (Senior Advisor for Asia, LBMA), and panelists Shekhar Bhandari (Senior Executive Vice President & Business Head, Kotak Mahindra Bank) and Somasundaran PR (Managing Director, India, WGC) discuss Indian gold demand considering the devastating impact of the coronavirus outbreak in the region - and how demand might change around Akshaya Tritiya and beyond.

LBMA Webinar

20 May 2021 11:30 BST

Global Initiative and Illicit Gold Markets

On Thursday, 20 May at 11:30AM BST, Alan Martin (Head of Responsible Sourcing, LBMA) will be sitting down with Marcena Hunter (Senior Analyst, Global Initiative Against Transnational Organized Crime) to talk about their upcoming report on Illicit Gold Markets in East and Southern Africa.

Register now

LBMA Webinar

27 May 2021 12:00 BST

ESG & Mining

Join us on Thursday, 27 May as host, Neil Harby (Chief Technical Officer, LBMA), Grant Beringer (Group Sustainability Executive, Barrick Gold Corporation) and Edward Bickham (Senior Advisor, World Gold Council) add to the responsible sourcing conversation by discussing what's currently going on in the world of ESG and Mining.

LBMA & Industry Events

12 June 2021

IPMI 45th Annual Conference
1 July 2021

LBMA AGM 2021

1 December 2021

LBMA Annual Dinner 2021

3 March 2022

LBMA Annual Party 2022

Latest Webinars

Join us bi-weekly on Thursdays to catch up on hot topics, market continuity updates, regulatory briefings, and more.

Webinar

LPPM PGMs Update 2021

David Jollie (Anglo American) and Justin Froneman (Sibanye-Stillwater) discussed how to balance recycling production with primary production, how price fluctuations can impact miners, and shared how the industry will progress over the coming years.

Webinar

LBMA 2021 Price Forecast Review

Our panelists discuss the key factors underpinning their LBMA Price Forecasts, analysed what prompted prices to drop, and whether they would change their forecasts based on what they know now.

Alchemist Issue 100

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History

Issue 100

Back to the Future with our CEOs

By Stewart Murray

Refining

Issue 100

A Journey Through 25 Years of the Gold Refining Industry & The Shift to the East

By Grant Angwin

Market

Issue 100

Gatekeepers of the OTC Market

By Mark Woolley

Gold

Issue 100

Lifting the Lid on the Birth of the Gold ETF

By Graham Tuckwell

LBMA Initiatives: Responsible Sourcing

Our mandatory independent audit programme verifies the legitimacy of gold and silver supply chains, ensuring sourcing meets international ethical standards.

Regulation

The (Ever) Evolving Regulatory Landscape

LBMA General Counsel Sakhila Mirza offers her take on regulatory reform – a ubiquitous topic in an ever-evolving landscape. She reflects on the last 25 years since the Alchemist was first published and outlines what this period reveals about the markets.

Responsible Sourcing

LBMA's first Annual Responsible Sourcing Report

Our expert report provides data on the country of origin, highlighting where gold is mined and refined around the world. It aims to increase the transparency of the LBMA Responsible Sourcing programme.

Artisanal Small-Scale Mining

Emergency Support Needed for Artisanal/Small Scale Miners

Some 83% of the world’s mining workforce relies on Artisanal and Small Scale mines for their livelihood. We urge industry, government and civil society to support and protect these communities.

Featured Training

LBMA Virtual Training Courses

LBMA’s bullion market training gives you the tools to successfully engage with the market. This live virtual course offers a detailed and definitive primer for any investor or institution looking to understand and take part in the global precious metals market. This course is CPD Accredited.

Read more

Vault Operators Training

LBMA’s Vault Operators training aims to raise standards at all delivery points around the world. It provides all learning resources and assessment tools needed to ensure vault operators apply the same high standards as the London vaults.

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Key Publications

Guide to the Loco London Precious Metals Market

Read document

Global Precious Metals Code

Read document

Good Delivery Rules

Read document