Sunday, February 28, 2021

Tag: LBMA claims record amount of gold in London’s vaults

LBMA claims record amount of gold in London’s vaults

by Ronan Manly, BullionStar:

According to a press release this week from bullion bank controlled industry group the London Bullion Market Association (LBMA), the total amount of gold held by combined LBMA commercial vaults and Bank of England vaults in London hit a record 8,228 tonnes as of the end of September 2019. This, says the LBMA, equates to 658,274 wholesale market gold bars (London Good Delivery gold bars) valued at approximately US $392.9 billion.

Given that LBMA monthly London vaulted gold holdings data is published on a 3-month lagged basis and was first published in July 2017 (with initial data going back to July 2016), the “record high” of London vaulted gold that the LBMA is referring to here is in terms of the 3.5 years since the LBMA made monthly vaulting data public from July 2016 onwards, i.e. the pink line in the chart below.