Behind the Headlines of Record Gold Stocks in London Vaults

by Ronan Manly
Bullion Star

Last week, the London Bullion Market Association (LBMA) published its latest monthly update on gold holdings in the LBMA vaults in London, claiming that there are now record gold stocks of 9452 tonnes of gold held in these vaults.

The vault data in question covers the London vault holdings of seven LBMA members which operate commercial vaults in London, as well as the gold vault holdings held at the Bank of England’s London gold vaults. These seven vault operators comprise three bullion banks – HSBC, JP Morgan, and ICBC Standard Bank – and four security firms – Brinks, Malca-Amit, G4S and Loomis. The LBMA vault data is reported on a 1 month lagged basis.

According to the LBMA, as of 30 November 2020, the London vaults (including those of the Bank of England) held 303.891 million troy ounces of gold, or 9452 tonnes.

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