As the latest data from the London Bullion Market Association
(LBMA) showed, trading activity tumbled in April despite higher prices.
The latest clearing statistics registered that 16.9 million ounces of gold
was traded on a daily basis last month, the lowest level since
September 2014 and down 10% compared to March’s daily average of 18.7
million ounces.
The LBMA also noted that gold’s average price in April rose 1.6% to $1,197.91 an ounce.
The value of gold transferred tumbled more than 8% to $20.2 billion, from March’s value of $22.1 billion, data indicated. The number of daily transfers in April fell as well to 2,701 from 3,061 daily transfers reported in March; while the number of ounces transferred increased slightly to 6,254, up from the precious level of 6,125.
In the silver market, the body said that April trading activity was also dim.
An average of 112.9 million ounces was transferred
on a daily basis, down more than 25% from March’s daily average of
149.7 million ounces, “its lowest level since November 2013,” the report showed.
The silver average price in April was $16.32 /oz, up only 0.6% from March’s average price of $16.22 /oz.
The average value of the daily silver trades was
$1.84 billion, “the lowest level since September 2010,” and down from
March’s average daily value of $2.43 billion.
Moreover, the average quantity of silver trades dropped to 620, 11% lower from 697 trades in March. The number of ounces per transaction dropped by 15% to 182,051 ounces, compared with March’s average of 214,772 ounces, the report said.
