LBMA volumes decline in April

Gold & Silver

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(Kitco News) – The latest clearing data for precious metals has been released by the LBMA and there were slightly lower volumes noted in April. The daily averages for gold in April of gold transferred in decreased by 7.1% month on month (m/m) to 18.2 mn, with the corresponding value transferred down 7.7% m/m to $35.2 bn. There were 4,605 transfers, 13.9% lower month on month, with the clearers settling on average 3,957 ounces per transfer, 7.9% which is higher m/m.

For Silver, the volume of ounces transferred decreased by 0.1% m/m to 233.3 mn ounces, with the corresponding value transferred down around 2.2% m/m to $5.73 bn. The number of transfers decreased by 20% m/m to 1,620, with the clearers settling on average 144,000 ounces per transfer, 24.8% higher m/m. The average gold/silver price ratio in April was 78.8 up from 77.2 in March.

It is important to remember that this data is for April 2022 and we are now in June. During the month of April, the price of the yellow metal fell from a high of $1998.39/oz to a low of $1872.20/oz. Although the price is lower today it has picked up from a lower level and has some upside momentum. It will be interesting to see over the coming days and weeks if the price can breach to $1900/oz level once again as there is a resistance zone lying in wait. 

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