Prices and Data
Clearing Data
On average, more than 20 million ounces of gold is cleared daily in the London market and in excess of 200 million ounces of silver. Here you will find the latest monthly figures for gold and silver.
Our clearing data represents the net volume of transfers of gold and silver physically held in London – known as Loco London – settled between the four LBMA Market Maker banks that own and operate London Precious Metals Clearing Limited (LPMCL).
Clearing Most Recent Figures
January 2026
Gold
The volume of gold transferred in January increased by 9.9% month on month (m/m) to 18.2mn ounces, with the corresponding value transferred up by 21.6% m/m to $86.1bn. There were 7,341 transfers, 29.4% higher m/m, with the clearers settling on average 2,473 ounces per transfer, 15% lower m/m.
Silver
For silver, the volume of ounces transferred increased by 18.6% m/m to 287.1mn ounces, with the corresponding value transferred up 69.9% m/m to $26.4bn. The number of transfers increased by 37.8% m/m to 4,575, with the clearers settling on average 62,751 ounces per transfer, 13.9% lower m/m.
The average gold/silver price ratio in January decreased to 51.5 from 66.7 in December.
Notes
The data is collected and published monthly and is based on daily averages.
The statistics include:
- Loco London transfers from one party in a LPMCL clearing member's books to another party in the same member's books, or in the books of another LPMCL clearing member.
- Physical transfers and shipments by LPMCL clearing members.
- Transfers over LPMCL clearing members' accounts at the Bank of England.
The statistics exclude:
- Allocations for LPMCL clearing members where the sole purpose is to reduce overnight credit exposures.
- Physical movements arranged by LPMCL clearing members in locations other than London.