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LBMA: Ounces Of Gold Transferred In November Rises From October

By Kitco News
Friday November 28, 2014 12:58 AM

(Kitco News) - The amount of gold transferred between accounts of London Bullion Market Association members rose from October to November but the amount of silver that exchanged hands fell, the organization reported Friday.

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 trading activity.

The volume of gold ounces transferred daily increased by 7.6% month-on-month to 17.4 million ounces, the same level as it was 12 months ago, said the LBMA. This value of gold transferred increased by 6.2% to $21.3 billion daily. The number of transfers fell by 28.6% to 3,148, its lowest level since the start of 2013, while the number of ounces per transfer increased significantly to 5,523.

Meanwhile, the volume of silver ounces transferred fell by 4.5% from October to 135.8 million daily but was up sharply from 110.1 in November of 2013.

The value of silver ounces transferred daily fell by 11.2% from October to November, coming in at $2.33 billion, the LBMA said. The number of transfers decreased by 13.7% to 669, with the clearers settling on average 203,022 ounces per transfer.

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By Allen Sykora of Kitco News; asykora@kitco.com

 

 

Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in precious metal products, commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.
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