At present, silver is in higher demand than gold in the precious metals market, according to (LBMA), a bullion market association in London.
According to the latest data, as of the end of February this year, there were 9559 tons of gold in its vault, worth about $535.6 billion, equivalent to about 764741 gold bars.
Its silver inventory is 34996 tons, worth about $30 billion, or about 1166540 silver bars.
During February, gold cleared by LBMA remained unchanged from a month earlier, at about 18.8 million ounces, with the value falling 2.9 per cent from a month earlier to $34.1 billion. A total of 4650 transactions, an average of 4053 ounces per transaction, an increase of 0.7 per cent from the previous month.
Silver trading surged 30 per cent to 336.2 million ounces in February from the previous month, while the value rose 37 per cent to $9.2 billion from the previous month. The number of transactions surged 44 per cent to 2737 from the previous month, with an average of 122830 ounces per transaction, down 9.8 per cent from the previous month.
The gold market has been volatile for some time, while silver has performed better.
