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All Time Record Gold Transactions Reported By LBMA

Tyler Durden's picture




 

From GoldCore

All Time Record Gold Transactions Reported By LBMA

The precious metals have been weak again in May with gold falling 4.4% despite this weeks’ recovery. Silver is down 7% and platinum by 2.6%. Palladium has recovered from recent weakness and those who accumulated on weakness are set for the best month since November after it surged 6.6% in May.

Weakness in gold and silver is leading to robust demand internationally as store of value buyers accumulate gold and silver on this dip. This is particularly the case in Asia where premiums remain robust and supply demand imbalances remain.

The persistent strong demand of this week began on the price falls in April. This demand is clearly seen in the London gold and silver trading data released by the London Bullion Market Association (LBMA) yesterday.

London gold trading jumped to a 20 month high in April and silver volumes surged 25% after the price falls led to an increase in physical buying, the LBMA said in a report.

Trading in gold averaged 24.1 million ounces a day in the London market, the most for any month since gold reached record nominal highs in August 2011, the LBMA said in a statement yesterday as reported by Bloomberg.

 The 24.1 million ounces was a 10% increase on March when 21.8 million ounces a day were traded.

Silver volume surged nearly 25% to 165.2 million ounces a day, up from 132.5 million ounces in March.

There were 5,395 gold transactions on average per day, the highest on record, while silver transfers at 1,007 a day were the second-highest ever, according to the report.


Gold Spot $/oz, 60 days, 30 minutes – (Bloomberg)

Gold fell 14% in London in the two trading sessions ended April 15, the biggest drop in more than 30 years, on ‘speculation’ that Cyprus or other European countries would sell holdings in the precious metal, the LBMA said. 

The price has rebounded as much as 13% through early May as demand increased for gold coins and jewelry.


Gold Spot $/oz, Daily, 3 Year – (Bloomberg)

“April was characterized by continued offloading of both metals by ETF funds,” the LBMA said. “But this was more than offset by strong physical demand, particularly from India,” the world’s biggest consumer.

The value of gold transferred in April increased about 3% from the previous month to a daily average of $35.8 billion, the LBMA said. Silver values climbed about 9% to $4.17 billion a day.

The South African rand collapsed 7.7% against gold this week. In the same way that Japanese people preserved their wealth through gold ownership this week and in recent months (stock falls and currency devaluation), gold has protected South African people from currency devaluation in recent years and again this week. More importantly, it will do so in the coming years.

 

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Fri, 05/31/2013 - 08:30 | 3613051 kliguy38
kliguy38's picture

Idiots....don't they know its a BEAR market...guess they didn't get the memo

Fri, 05/31/2013 - 08:34 | 3613070 LawsofPhysics
LawsofPhysics's picture

ignorant rock collectors... < sarc off >

Fri, 05/31/2013 - 08:38 | 3613077 GetZeeGold
GetZeeGold's picture

 

 

It's when the transactions come to a sudden halt....is when the problems will become obvious.

Yeah it's cheaper.....it's just that we don't have any. Might want to try Germany.

Fri, 05/31/2013 - 08:50 | 3613101 MillionDollarBonus_
MillionDollarBonus_'s picture

As an outsider with a conventional financial education, it is simply fascinating to watch the hysteria inside the goldbug community. If respected economic and financial professionals could see the vulgarity in the comment sections of this site, they would be ashamed of ever considering the gold market as a legitimate financial market. True investment professionals need to make a clear effort to distance themselves from the sick masochism and narcisistic magical thinking that characterizes the golbug community.

Fri, 05/31/2013 - 08:51 | 3613107 LawsofPhysics
LawsofPhysics's picture

With the dollar cost average on my physical holdings under $300 an ounce, I feel great about my purchasing power going forward.  I can always count on MDB for such complements.  Thanks MDB.

Fri, 05/31/2013 - 09:56 | 3613217 JimBowie1958
JimBowie1958's picture

Anyone got  a chart of the purchasing power today of two investments made in 2000? What would $1,000,000 of DOJ stock bought in 2000 have in value today (adjusted for inflation) compared to what $1,000,000 of gold bought in 2000? I think 2000 the best year to start the comparison since that seems to be when the Feds started escalating their intervention in the markets, which I think is the driving force behind the rise in gold price over the last ten years or so.

I think such a comparison would make the case for goldbugs.

Fri, 05/31/2013 - 12:03 | 3613813 Bring the Gold
Bring the Gold's picture

But, but all the shills inform me that the market is collapsing. Or my new favorite: Asians buying to sell to ignorant round eyes who are the greater fool. LMFAO. God I love that one. Just REALLY?!?!?!?! Yeah lets buy and then sell on the way down cause that makes soooo much sense. It's in a collapsing bear market, yet they are buying to resell to dumb westerners. I haven't seen this many convoluted positions since the Kama Sutra!

 

Fri, 05/31/2013 - 13:15 | 3614032 Pinto Currency
Pinto Currency's picture

 

The LBMA figures are daily net settled at the end of the day.

Total daily volume is estimated to be 4x the net volume.

Gives  ~100 m oz. trading in one day at LBMA.

Mon, 06/03/2013 - 13:31 | 3620725 MeelionDollerBogus
MeelionDollerBogus's picture

of the DOJ you say? I guess that depends on whose hand I put the money in and when Holder ships the goods, which side of a particular border I'm on.Some people made off like bandits!

Fri, 05/31/2013 - 09:43 | 3613300 jjsilver
jjsilver's picture

You explained your lack of intelligence very succinctly million dollar shill when you stated you have a conventional financial education.

Fri, 05/31/2013 - 08:54 | 3613115 HulkHogan
HulkHogan's picture

Being a goldbug, I couldn't understand half the words you used. Please remember many of us only have GEDs. We don't have fancy college degrees like you.

Fri, 05/31/2013 - 08:58 | 3613128 GetZeeGold
GetZeeGold's picture

 

 

I've found most of the stuff I use on a daily basis....I learned in grade school. Math probably tops the list.

Fri, 05/31/2013 - 09:06 | 3613166 Scro
Scro's picture

My daddy learnt me about gold down by the crick.

Fri, 05/31/2013 - 10:01 | 3613371 EscapeKey
EscapeKey's picture

He says the derivative IS the market, and the physical is the derivative.

Fri, 05/31/2013 - 09:05 | 3613160 AKrandy
AKrandy's picture

You must be referring to the NAMBLA community.

Fri, 05/31/2013 - 09:25 | 3613233 Manipuflation
Manipuflation's picture

MDB, please make sure that you watch this entire educational video so that you can fully appreciate what we think of "respected economic and financial professionals" before you post again.

 

http://www.youtube.com/watch?v=nQB4nAjZIdE

Mon, 06/03/2013 - 13:46 | 3620762 MeelionDollerBogus
MeelionDollerBogus's picture

good and true, but this one,

http://youtu.be/aUAQgZIyWQk from Peter Schiff is also highly instructive. These n00bs know nothing. Literally they can't answer any questions about anything.

Fri, 05/31/2013 - 10:14 | 3613424 joak
joak's picture

Gold is not a market, gold is the money dear. You will understand it soon, and the hard way.

Fri, 05/31/2013 - 10:14 | 3613427 MrBoompi
MrBoompi's picture

Gold was a store of value for thousands of years before the USD. I realize the USD is all you know, but maybe you should be thinking about what real money is, and what we will be using for money 1,2,5 or 100 years from now. Just look at how much the dollar has devaluatrd in the last 100 years and who really benefits in our society under the current fiat system.

Fri, 05/31/2013 - 10:24 | 3613471 Gringo Viejo
Gringo Viejo's picture

MDB: Yesterday I went to my local coin shop,bought every oz. of silver they had,paid $5 over spot for uncirculated Maples......never blinked, never thought twice about it.
I've never felt less hysterical in my life. This is about survival my "conventinal" friend.

Fri, 05/31/2013 - 12:32 | 3613910 Bring the Gold
Bring the Gold's picture

I imagined you with a full lustrous graying beard and dos equis in front of you while reading that.

Something like this:

http://memegenerator.net/instance/38285722

Sat, 06/01/2013 - 04:33 | 3616219 StychoKiller
StychoKiller's picture

LOL!

Mon, 06/03/2013 - 13:43 | 3620751 MeelionDollerBogus
MeelionDollerBogus's picture

LOL

that's as good as boatingaccidentnews.com

+100000 for you good sir

Fri, 05/31/2013 - 13:50 | 3614212 Kirk2NCC1701
Kirk2NCC1701's picture

MDB and your ilk,

The TD's must absolutely love your postings, given the copiuous response -- and site hits -- this generates.  You really should get a cut of the profits.  ;-)

 

Mon, 06/03/2013 - 13:41 | 3620748 MeelionDollerBogus
MeelionDollerBogus's picture

The biggest buyers per year by tonnage of gold are the central banks, so you're referring to THEM as the goldbugs, right?

Fri, 05/31/2013 - 08:53 | 3613111 ltsgt1
ltsgt1's picture

It's like deja vu once again. In America, you can have a pocket full of cash but you cannot buy any ammo. In Asia, you cannot buy any gold with a suitcase of cash.

I was in Hong Kong and Singapore last week. There were no gold.

Fri, 05/31/2013 - 08:45 | 3613095 Stoploss
Stoploss's picture

OT:

Get ready for a good consumer con report.

The DAX must be saved today.

Fri, 05/31/2013 - 09:27 | 3613241 rogeliokh
rogeliokh's picture

And Yet again London and now Crimex paper f*ckers pushing paper Silver Gold down, they have unlimited supply of paper. They need to push it under 1400 it's Friday. F* crooks!

Fri, 05/31/2013 - 09:38 | 3613276 Silveramada
Silveramada's picture

dealers of PM's are still catching up with april surge in demand due to the paper smackdown...inventories are lower than before now,

 

http://zysites.com/silververitas/

Fri, 05/31/2013 - 11:05 | 3613620 Deo vindice
Deo vindice's picture

I ain't biting on even clicking on that site you keep shilling for. Did you make it readable at least yet?

 

Fri, 05/31/2013 - 11:23 | 3613683 Bay of Pigs
Bay of Pigs's picture

Silvermada is a good dude. He is writing on the physical market. You know, the real one. 

GoldCore has no cred when they show quotes like this. They are a bunch of hacks. It is dishonest and wrong if they aren't going to explain these lies and spew propaganda. 

"Gold fell 14% in London in the two trading sessions ended April 15, the biggest drop in more than 30 years, on ‘speculation’ that Cyprus or other European countries would sell holdings in the precious metal, the LBMA said."

Fri, 05/31/2013 - 11:38 | 3613735 koaj
koaj's picture

i bought from my dealer sunday night may 19th when japan puked up a ton of silver and the price touched $20 or so

 

i stillhave not gotten delivery and was told it may take another 1-2 weeks

Fri, 05/31/2013 - 12:08 | 3613834 Silveramada
Silveramada's picture

told you so..i have nothing to gain in telling things for what they are, I am not even on commissions! lol  (I WISH...)

Fri, 05/31/2013 - 08:30 | 3613058 MFLTucson
MFLTucson's picture

None of this matters to the American fraudsters, they will do it again because it is all about precieved value of the paper dollsr, not real money or supply and demand.

Fri, 05/31/2013 - 08:30 | 3613060 Racer
Racer's picture

And the MSM and PTB would like you to think that there was weak demand and try to scare you out of your phyzz

Fri, 05/31/2013 - 08:37 | 3613075 BigInJapan
BigInJapan's picture

Gold "trading"...

Gold "transactions"...

Is this GOLD gold, or a piece of paper with the word "gold" written on it?

I've heard of the latter such creatures - seemingly figments of the imagniation and yet spoken of as though they were altogether real.

Fri, 05/31/2013 - 09:08 | 3613172 eclectic syncretist
eclectic syncretist's picture

Well JPM's customer accounts got delivery notices for 455,100 oz. of gold (15.6 tonnes) yesterday, most of it being taken by the HSBC and Barclays house accounts.  And so far this month JPM has been accumulating in it's house account.

http://www.cmegroup.com/delivery_reports/MetalsIssuesAndStopsReport.pdf

http://www.cmegroup.com/delivery_reports/MetalsIssuesAndStopsYTDReport.pdf

At this point in the year US Mint silver eagles sales are up 50% over last year, double what they were in 2009, and triple what they were in 2008.  That data is all here if you care to verify it.

http://www.usmint.gov/mint_programs/american_eagles/?action=sales

Fri, 05/31/2013 - 09:15 | 3613201 Central Wanker
Central Wanker's picture

This is where it gets interesting: 

http://www.cmegroup.com/delivery_reports/Gold_Stocks.xls

There's not much left in JPM's vault... 

Fri, 05/31/2013 - 08:41 | 3613081 Yardfarmer
Yardfarmer's picture

do not fold spindle or mutilate. highly irrelevant.

Fri, 05/31/2013 - 08:41 | 3613088 BeetleBailey
BeetleBailey's picture

Fuck 'em....

All these shit-eating wanking bankers...

LONG Silver here: spot and coinage....50 CENTS DOWN AND WAAAAAAY UP PHYZ.....

LONG GOLD..coinage a poppin......STILL WAY UP PHYZ

I can wait a long fucking time motherfuckers.....bring it you pussies....

 

 

Fri, 05/31/2013 - 08:59 | 3613130 scatterbrains
scatterbrains's picture

on the other hand buying gold and silver should be considered a very long term play.. sure prices can zig and zag and the crooks and manipulators can play on but the game will get much more cut throat because it is man's way to escalate everything eventually and we see that clear as day now and can rest assured it will get worse.. so why fuss over a zig or a zag when one day soon it will be a discontinuous response..the music will just up and stop and the only peeps with chairs will be the one's that didn't give a flying fuck about 1200 or 1800 gold... but I know what you mean.. just put it in perspective..the legacy you'll leave to your children. If they lose control of the ponzi sooner, great! Your protected.

Fri, 05/31/2013 - 08:46 | 3613098 Smuckers
Smuckers's picture

Gaww-DAMN it feels good to be barbaric!

Fri, 05/31/2013 - 08:46 | 3613099 Silverhog
Silverhog's picture

Paper Gold & Silver is probably stuck in first gear forever thanks to Corzine and others.  Better to focus on the bullion dealers for real price discovery now. 

Fri, 05/31/2013 - 08:52 | 3613109 LawsofPhysics
LawsofPhysics's picture

All paper promises are going to zero.

Fri, 05/31/2013 - 08:58 | 3613125 JustObserving
JustObserving's picture

Record transactions at LBMA followed by record shorting every morning in the USA.  It all evens out.  The metals markets remain most manipulated in history.  Why is silver down 2.32% today?

Fri, 05/31/2013 - 09:01 | 3613140 tradewithdave
tradewithdave's picture

Distance makes the heart grow fonder... conventionally speaking. Absence on the other hand, well absence causes complete and total panic. Gonna miss you man.

Fri, 05/31/2013 - 09:02 | 3613142 PaperBear
PaperBear's picture

No bear market in physical gold in evidence here.

Fri, 05/31/2013 - 09:11 | 3613184 apberusdisvet
apberusdisvet's picture

The FED trolls never want to acknowledge that true physical will see continuing production declines going forward as all marginal projects are being shelved and exploration and drilling are curtailed throughout the global mining community.  Of course the increasing demand by those in the ME and Asia must be totally irrational (sarc), but it still exists.

Fri, 05/31/2013 - 09:21 | 3613219 Bansters-in-my-...
Bansters-in-my- feces's picture

There is NO weakness in silver and gold, period.

It is relentlessly being smacked down DAILY by the financial terrorist that are running the world.

 No....there is no weakness.

Fri, 05/31/2013 - 09:43 | 3613299 stopthenewworldorder
stopthenewworldorder's picture

Dollar Bonus - for one, most people with an education know how to spell.  They also generally know that a true investment professional is an oxymoron anyway....those of us that actually work in financial markets enjoy your baiting and ramblings but lets not pretend you have a clue what you are talking about :)

Fri, 05/31/2013 - 10:31 | 3613497 auric1234
auric1234's picture

Gold smashed again today. How surprising. I'd never have seen it coming.

 

Fri, 05/31/2013 - 10:53 | 3613574 Hayek FA
Hayek FA's picture

Beaten like a red headed step child.

Fri, 05/31/2013 - 10:46 | 3613543 Bahamas
Bahamas's picture

Recently I have started to ask people a simple question: " if you were to lend, let's say 100.000 dollars out of your own pocket on a 30 years loan, in these days and times, what would you prefer as collateral"? ,,.... Government Bonds? Real Estate? Stocks?...No. Once people reason, and know they are risking their own money, there is only one collateral that you are sure that will keep its value in such a distant time span and that collateral is GOLD. Period.

Fri, 05/31/2013 - 10:58 | 3613595 Silversinner
Silversinner's picture

These friday goldprice smashes are so nice.

I always buy at the weekends to take advantage of this discount.

It also gives me time to surge the web for the best price at the 

online dealers.

One tenth of an ounce of gold and five ounces of silver coming up.

Fuck you ponzi bankers I will keep buying untill your evil house

of paper breaks down.

 

Fri, 05/31/2013 - 11:12 | 3613637 Deo vindice
Deo vindice's picture

"It also gives me time to surge the web for the best price at the 

online dealers."

Now I know why my computer runs slower on the weekends. It's you "surging" the web.

Fri, 05/31/2013 - 12:57 | 3613989 boeing747
boeing747's picture

JustObserving: today is friday when Asia markets are closed.

Dollars are too strong, that hurts us economy, I can feel in my business people are running of money.

Dollar Index shall be around 70 after QE3 and QE4, but it hangs on 80+, so I guess 'Treasury no bid' and 'Rich people hide in phy golds' are much serious than we thought.

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