SMM: London Gold and Silver Market Association (LBMA) data show that the amount of gold inventory in its vault has increased for five months in a row.
Recently, the gold market continues to fluctuate around the $1900 / oz level. Although gold prices appear to be stagnant, investors still see gold as a safe haven in terms of positions.
Gold stocks in its London vaults rose for the fifth month in a row in the year to September, totaling 9069 tons, worth about $550.2 billion, according to LBMA. In addition, the amount of silver in the vault is 33508 tons, worth about $25.6 billion.
But despite an increase in positions, trading volumes fell in September.
Gold trading volume fell 14.8 per cent to 18.8 million ounces in September from August, according to LBMA.
In addition, the value of gold trading fell nearly 17 per cent month-on-month to $36.2 billion. The total number of transactions in September was 4670, down 8 per cent from the previous month, with an average of 4032 ounces per trade, down 7.4 per cent from the previous month.
In terms of silver trading, total silver trading volume fell 14.9 per cent to 288.9 million ounces in September from a month earlier. The value of silver trading fell 18.1 per cent to $7.48 billion from the previous month. The number of transactions was 2269, down 26.5% from the previous month, with an average of 127318 ounces per transaction.
