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LBMA to reveal size of London's gold market on Nov. 20
By Peter Hobson
Monday, October 29, 2018
BOSTON -- The London Bullion Market Association will begin publishing data on November 20 that will provide the most accurate picture yet of the size of London's gold trade, its chief executive said today.
London is the world's largest gold market but because most transactions are done bilaterally between banks, brokers, and traders reluctant to reveal their activity, its true size remains a mystery. ...
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The closest approximation is clearing data that suggest gold worth around $25 billion changes hands each day, but this data contains only transactions that reach settlement in London.
The new LBMA figures will show the total trading activity of LBMA members who make up the bulk of the London market and are expected to be much larger than the clearing statistics. ....
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