LBMA: Gold Ounces Transferred Daily In December At Highest Level Since June 2013
(Kitco News) - The amount of gold and silver transferred between accounts of London Bullion Market Association (LBMA) members spiked in December, the organization reported Thursday.
The average volume of gold ounces transferred daily in December jumped a staggering 32.8% to 26.8 million ounces —its highest level since June 2013, the LBMA said.
The value of gold ounces transferred daily in December rose by 30.7% to $33.8 billion, while the number of transfers was at 2,986, and the clearers settling on average 8,981 ounces per transfer — 18% higher than in November.
Meanwhile, the volume of silver ounces transferred in December surged 35% to 326.1 million ounces, which marked the highest level since February 1998.
The value of silver ounces transferred rose by 28.2% to $5.27 billion. The number of transfers in December was largely unchanged at 1,080, with the clearers settling on average 302,041 ounces per transfer.
During the last month of 2017, the average gold/silver price ratio was 78, up from 75.4 in November, the LBMA said.
The LBMA’s monthly clearing statistics show the net volume of gold and silver transferred between accounts of members, which provides a snapshot of the amount of trading activity.
For Kitco News
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