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Mining News Pro - The London Bullion Market Association (LBMA) reports that, at the end of November last year, there was a record 9 452 t of gold, valued at $535-billion, held in stocks.
This marked the seventh consecutive month of increases in stocks.
The LBMA also reported 33 475 t of silver holdings, valued at $23.8-billion, as at November 30.
The data represents the holdings of seven custodians offering vaulting services and that are members of the LBMA and the Bank of England.
The volume of ounces transferred in November bounced back from a five-year low in October, posting an increase of 16.5% month-on-month to18.4-million ounces, with the corresponding value up by 14.3% to $34.2-billion.
The LBMA says there were 5 111 transfers in November, a 23% increase month-on-month, with the clearers settling on average 3 596 oz per transfer, which was 5.2% lower month-on-month.
The volume of silver ounces transferred in November increased by 12.5% to 255-million ounces, with the corresponding value transferred increasing by 11.6% month-on-month to $6.1-billion.
The LBMA notes that the number of silver transfers in November increased by 28% month-on-month to 1 919, with the clearers settling on average 132 901 oz per transfer, which was 12% lower month-on-month.
The average gold/silver price ratio in November was 77.5 – down slightly from 78.4 in October.
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