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 […]
November 3, 2020 (updated November 3, 2020) Published by StockMan