Daily gold transfers edge up in August – LBMA

Gold transferred between accounts held by bullion clearers climbed slightly to an average volume of 18 million ounces a day in August, up 0.4 percent from July’s figure, the London Bullion Market Association (LBMA) said on Tuesday. The clearing statistics measure how much gold and silver are transferred on a net basis between accounts held by bullion clearers, and the figures are released monthly by the LBMA.
On a year-on-year basis, bullion transfers were down by nearly 20 percent. A 12-year high of 29 million ounces was recorded in June 2013, when gold prices fell by 11 percent. In June, the value of gold traded dipped by 0.8 percent to $23.3 billion, the LBMA said. Gold prices dropped 1.1 percent last month to an average $1,295.99 an ounce, the LBMA said. In silver, the volume of ounces transferred edged down by 0.6 percent, to 121 million ounces.
Source:Bullion Bulletin

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