Reuters | Mon, 17 Aug 2009 16:39
[miningmx.com] -- Gold ounces transferred between accounts held by bullion clearers fell 13.6% to a daily average of 17.7 million ounces in July from a month earlier, the London Bullion Market Association (LBMA) said on Monday.
The clearing statistics measure how much gold and silver are transferred on a net basis between the accounts held at the bullion clearers.
Based on an average fixing of $934.23 an ounce, 1.2% below the June average, value fell to a daily average of $16.5 billion. The number of transfers declined 14.2% to a daily average of 1,317.
Measured year-on-year, gold statistics were lower. Ounces transferred fell 17.9 percent, value slipped 18.4% and the number of transfers dropped by 32.1%.
Ounces transferred in silver fell 9.5% to a daily average of 90.5 million. Based on an average fixing of $13.36, 8.8% lower than the previous month's average, the value of transfers fell to a daily average of $1.21 billion.
The number of transfers fell 13.3% to a daily average of 310. Measured year-on-year, ounces transferred fell 14.2% and value decreased 36.4%. The number of transfers fell 35.5%.
