LBMA gold stocks down 1.7% to 8,535 tn in Jan, silver 8.6% to 23,528 tn
This story was originally published at 21:36 IST on 7 February 2025
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--LBMA gold stocks down 1.7% on month at 8,535 tn as of Jan 31
--LBMA silver stocks down 8.6% on month at 23,528 tn as of Jan 31
MUMBAI – Gold stocks held in the London Bullion Market Association's vaults fell by 1.7% on month, or 151 tonnes, to 8,535 tonnes in January, the association said Friday. The value of gold held was $771.6 billion, equating to approximately 682,772 gold bars, it said.
Silver stocks held at the association's vaults plunged 8.6% on month, or by 2,212 tonnes, to 23,528 tonnes last month, the largest monthly decline since July 2016. The value of silver held was $23.9 billion, equating to approximately 784,282 silver bars. However, the value of silver at the association's vaults remained unchanged on month, the release said.
"The outflow in gold and silver is directly linked to the movement of metal from London to New York due to tariff concerns," the association said. For silver, market participants continue to watch with concern US threats of blanket tariffs on key gold-producing nations.
The association said that despite the outflow, London's precious metal market remains robust and provides an important insight into London's ability to support the physical over-the-counter market.
"This is unusual for the New York market where gold futures contracts typically roll or are cash-settled. At some point, physical metal can be expected to return to London," the association said.
The average daily over-the-counter volume in January was $127.85 billion. In addition, primary mine supply continues to contribute 305 tonnes of new metal monthly, further supporting broader market liquidity, the association said. End
Reported by Sandeep Sinha
Edited by Rajeev Pai
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