London gold market comes clean: It's not as big as thought

Section:

By Eddie van der Walt, Rupert Rowling, and Anna Edwards
Bloomberg News
Tuesday, November 20, 2108

London's gold market owned up to the biggest secret in bullion: It's not as big as some thought and, for last week at least, smaller than New York's.

An average of $36.9 billion of gold and $5.2 billion of silver changed hands each day in the city's over-the-counter market, including metal for delivery in Zurich, according to figures released for the first time today by the London Bullion Market Association. Previous World Gold Council estimates, based on 2016 data, were between three and six times higher. ...

... For the remainder of the report:

https://www.bloomberg.com/news/articles/2018-11-20/london-gold-market-co...



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