Page 51 - Bullion World Issue 1 May 2021

Bullion World | Issue 01 | May 2021
LBMA data shows there is more

demand for silver at the moment

The LBMA have released their latest were 4,650 transfers in February broadly
gold holdings and clearing statistics in line with the previous month, with
data. The association have said at the the clearers settling on average 4,053
end February 2021, there were 9,559 ounces per transfer, 0.7% higher m/m.
tonnes of gold, valued at $535.6 billion.
This much gold equates to approximately For silver, the volume of ounces
764,741 gold bars. When it comes to transferred in February increased by
silver, at the end of February 2021, there 30% to 336.2 mn ounces, with the
were 34,996 tonnes of silver, valued at corresponding value transferred more
$30 billion. This is around 1,166,540 than 37% higher m/m at $9.2 bn.
silver bars. The number of transfers in February
increased by 44% m/m to 2,737, with
For February, clearing stats were the clearers settling on average 122,830
unchanged month on month (m/m) at ounces per transfer, 9.8% lower m/m.
18.8 mn ounces, with the corresponding
value 2.9% lower at $34.1 bn. There Source: https://www.kitco.com

Uzbekistan discloses 10-year
dynamics of gold exports

Uzbekistan exported 687 tons of gold for according to the report on the country’s
the past ten years, Uzbek central bank has investment position and balance of payment.
said in a recent report, for the first time
disclosing 10-year dynamics of its main The resource-rich Central Asian nation
export commodity. The report was released produces around 100 tons of gold annually.
earlier this week as the ex-soviet republic The Muruntau gold mine in Navoi region
opens up its macroeconomic data to bring it was rated as the world’s leading gold mining
in line with international standards. deposits in 2020, according to a review by
Kitco, a Canadian company that buys and
Uzbekistan’s gold export hit the highest sells precious metals.
point of 110 tons in 2019, compared
with the lowest of only 10 tons in 2012, Source: http://www.xinhuanet.com

107.5 tonnes of gold flowed out of

global ETFs in March -
World Gold Council

The WGC said that 107.5 tonnes of gold, picked up that the U.S. will see a robust
valued at $5.9 billion, flowed out of global recovery from the COVID-19 pandemic.
ETF products in March. The report noted He added that the tactical investors have
that the gold market had seen strong been taking profits in the gold market as
outflows in four of the last five months. momentum has slowed compared to last
year. However, he added that strategist
"This was also the second month in investors continue to see long-term value
a row which net outflows ranked the in the yellow metal and are providing
top 10 worst outflows historically," the critical support.
report said. "Since the peak asset levels
in November 2020, gold ETF holdings "It is natural for the gold market to see
have fallen nearly 9% in tonnage terms, some outflows as investors continue to
on part with the approximate loss in the take profits from last year's record rally,"
price of gold over the same period." he said. "This is a natural rebalancing of roughly 30% drop in the price. However,
the gold market." Artigas said that the WGC does not
In an interview with Kitco News, Juan expect this scenario to emerge in 2021.
Carlos Artigas, director of investment There are some concerns that the gold
research at the WGC, said that it is not ETF market could see a repeat of the Artigas explained that compared to
surprising that the gold market saw massive selloff of 2013, where 36% of 2013, the gold ETF market is a lot more
strong outflows as expectations have ETF holdings were liquidated, causing a diverse as holdings have grown across

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