LBMA: April Gold Ounces Transferred Daily Are Most For Year To Date-Shanghai Metals Market

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LBMA: April Gold Ounces Transferred Daily Are Most For Year To Date

Industry News 05:25:38PM Jun 01, 2017 Source:kitco news

Wednesday May 31, 2017 11:23
The amount of gold and silver transferred between accounts of London Bullion Market Association members during April was the most for the year to date, the organization reported Wednesday.

The LBMA releases clearing statistics each month showing the net volume of gold and silver transferred between accounts of members, essentially providing a snapshot of the amount of trading activity. The increase in trading activity as the association noted a 2.8% last month to average $1,265.63 an ounce.

The average volume of gold ounces transferred daily rose by 20.7% month-on-month to 21.8 million, the highest of the year following three consecutive monthly falls, the LBMA said. The corresponding value transferred daily was up 24.1% to $27.6 billion.

The average number of transfers was 3,059, broadly flat on the previous month, with the clearers settling on average 7,127 ounces per transfer, 20.7% higher than the previous month. The average price of gold in April was $1,265.63 an ounce, 2.8% higher than in March.

Silver also saw increased interest as prices rose 2.7% to average $18.06 an ounce, the association said.
The volume of silver ounces transferred daily was up 7.4% from March to 218.3 million, also the most for the year to date, while the corresponding value of ounces transferred increased by 10.3% to $3.94 billion, the LBMA reported.

The number of silver transfers daily increased by 22.5% to 1,132, with the clearers settling on average 192,863 ounces per transfer, 12.3% lower than the previous month. The average price of silver in April increased by 2.7% to $18.06 an ounce.

The average gold/silver price ratio in April was 70.1, broadly unchanged from the previous month, the LBMA said.

The amount of metal transferred in April was also sharply higher on a year-on-year basis. The daily average of 21.8 million gold ounces was up from 16.5 million in the same month of 2016. The daily average of 218.3 million silver ounces was up from 175.4 million in April of 2016.

By Allen Sykora
For Kitco News

Key Words:  gold prices   silver prices 

LBMA: April Gold Ounces Transferred Daily Are Most For Year To Date

Industry News 05:25:38PM Jun 01, 2017 Source:kitco news

Wednesday May 31, 2017 11:23
The amount of gold and silver transferred between accounts of London Bullion Market Association members during April was the most for the year to date, the organization reported Wednesday.

The LBMA releases clearing statistics each month showing the net volume of gold and silver transferred between accounts of members, essentially providing a snapshot of the amount of trading activity. The increase in trading activity as the association noted a 2.8% last month to average $1,265.63 an ounce.

The average volume of gold ounces transferred daily rose by 20.7% month-on-month to 21.8 million, the highest of the year following three consecutive monthly falls, the LBMA said. The corresponding value transferred daily was up 24.1% to $27.6 billion.

The average number of transfers was 3,059, broadly flat on the previous month, with the clearers settling on average 7,127 ounces per transfer, 20.7% higher than the previous month. The average price of gold in April was $1,265.63 an ounce, 2.8% higher than in March.

Silver also saw increased interest as prices rose 2.7% to average $18.06 an ounce, the association said.
The volume of silver ounces transferred daily was up 7.4% from March to 218.3 million, also the most for the year to date, while the corresponding value of ounces transferred increased by 10.3% to $3.94 billion, the LBMA reported.

The number of silver transfers daily increased by 22.5% to 1,132, with the clearers settling on average 192,863 ounces per transfer, 12.3% lower than the previous month. The average price of silver in April increased by 2.7% to $18.06 an ounce.

The average gold/silver price ratio in April was 70.1, broadly unchanged from the previous month, the LBMA said.

The amount of metal transferred in April was also sharply higher on a year-on-year basis. The daily average of 21.8 million gold ounces was up from 16.5 million in the same month of 2016. The daily average of 218.3 million silver ounces was up from 175.4 million in April of 2016.

By Allen Sykora
For Kitco News

Key Words:  gold prices   silver prices