The London Bullion Market Association (LBMA) reports that as of the end of July the amount of gold held in London vaults rose slightly on the month to 8,651 tonnes (a 0.6% increase on the June figure).
The gold in London vaults has a value of $674.9 billion – the equivalent of approximately 692,103 gold bars.
The LBMA also reported that London vaults had 26,618 tonnes of silver (a 1.8% increase on June), with a value of $24.4 billion. That equates to approximately 887,279 silver bars.
These figures provide an important insight into London’s ability to underpin the physical OTC market, the LBMA said in a statement.
The LBMA publishes data on the amount of gold and silver in the London vaults on the fifth business day of each month.
Philip Carter for Rough&Polished from London
