(Kitco News) - The amount of gold and silver transferred between accounts of London Bullion Market Association members during April was lower than in March, although the tallies were higher than in the same month of 2019, the organization reported Monday.
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 amount of trading activity.
The number of gold ounces transferred in April decreased by 18.2% month-on-month but was 18.4% higher year-on-year at 23.9 million ounces, the LBMA said.
The corresponding value of gold transferred fell by 13.5% month-on-month but was 54% higher year-on-year at $40.2 billion per day, the LBMA said. There was an average of 4,372 transfers per day in April, down by one-third for the month, with clearers settling on average 5,460 ounces per transfer.
Meanwhile, in the case of silver, the LBMA said 281.2 million ounces were transferred in April, which was 34.8% lower month-on-month but 18.2% higher year-on-year.
The corresponding value transferred was a daily average of $4.2 billion, which was 34.3% lower from the prior month but 18.1% higher than in the same period a year ago. The number of transfers daily in April averaged 1,817, which was 26.1% lower than the prior month, with the clearers settling on average 154,732 ounces per transfer.