These figures provide an important insight into London’s durability and reinforce the underlying strength of the physical OTC Market.
Record Gold Holdings in July of 282.62 million ounces
Responding to the requirement for increased transparency from the Fair and Effective Markets Review, the data was originally produced with a three-month lag in line with the publication of the Bank of England’s gold holdings.
This initiative has come at a unique time for the London market. The Covid-19 pandemic has demonstrated the importance of gold and silver in “challenging times”.
Ruth Crowell, LBMA Chief Executive commented "The London gold and silver vaults’ holding data makes an important and well-followed contribution to the understanding of the flows of precious metals into and out of the London market.
LBMA is therefore very pleased to be able to offer this information on a more timely basis as well as aligning the one month time lag with the monthly clearing data."
The Bank of England have also issued a statement on this transparency initiative on their website.
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