Investors holding record levels of gold for fifth consecutive month - LBMA

Investors holding record levels of gold for fifth consecutive month – LBMA

Editor’s Note: Get caught up in minutes with our speedy summary of today’s must-read news stories and expert opinions that moved the precious metals and financial markets. Sign up here! (Kitco News) – Gold maybe be caught in a tightening consolidation pattern around $1,900 an ounce, but according to the latest trade data from the London Bullion Market Association (LBMA), investors continue to see value in precious metals.

For the fifth consecutive month, a record amount of gold was held in London vaults in September, the LBMA said in its monthly clearing statistics report. As of the end of September, there were a record 9,069 tonnes of gold held in London, valued at $550.2 billion. Meanwhile, UK vaults held 33,508 tonnes of silver, valued at $25.6 billion.

Although gold investors continue to increase their holding in gold and silver, trading activity actually slowed in September.

According to the report, the volume of […]

Get involved!

Get Connected!

Come and join our community. Expand your network and get to know new people!

Comments

No comments yet