Thursday, June 10, 2010
LBMA says that record gold transfers have been taking place
Gold ounces transferred between accounts held by bullion clearers rose by a record 54.9 percent to a daily average of 24.7 million ounces in May from a month earlier, the LBMA said.
The clearing statistics measure how much gold and silver are transferred on a net basis between the accounts held at the bullion clearers.
Based on an average price of $1,205 an ounce, 5 percent above the April average, value rose by a record 62.5 percent to a daily average of $29.8 billion. The number of transfers rose 41.6 percent, also a record, to a daily average of 2,098.
The LBMA gold paper ponzi noose is getting just a little bit tighter!
Posted by Palmoni at 9:22 AM