Gold worth $37 billion traded in London each day, new data shows

Reuters/Peter Hobson/11-20-2018

“Members of the London Bullion Market Association (LBMA) traded at least 30.2 million ounces of gold worth $36.9 billion (28.7 billion pounds) each day last week, the LBMA said on Tuesday, presenting new data that gives the most accurate picture yet of the London market.”

USAGOLD note:  Investors are often surprised at the level of trade in the barbarous relic through the banking houses and institutions that comprise the London Bullion Market Association – most of it on paper.  And the $36.9 billion might be a low as this Reuters report points out.

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