February 28, 2011 / 1:02 PM / in 7 years

Daily gold transfers rise in January - LBMA

LONDON, Feb 28 (Reuters) - Gold ounces transferred between accounts held by bullion clearers rose 7.1 percent to a daily average of 19.2 million ounces in January from a month earlier, the London Bullion Market Association (LBMA) said on Monday.

The clearing statistics measure how much gold and silver are transferred on a net basis between the accounts held at the bullion clearers.

The average fixing dropped 2.5 percent, but value rose to a daily average of $26.1 billion. The number of transfers climbed 11.7 percent to a daily average of 2,034.

Measured year-on-year, gold statistics were mixed. Ounces transferred fell 3 percent, value rose 17.7 percent and the number of transfers increased by 13 percent.

Ounces transferred in silver rose 20.1 percent to a daily average of 119.7 million. The value of transfers rose 16.3 percent to a daily average of $3.4 billion, the highest figure since LBMA clearing statistic began in 1998.

The number of transfers rose 4.7 percent to a daily average of 597. Measured year-on-year, ounces transferred surged 69.9 percent and value leapt 171.4 percent. The number of transfers rose 100.4 percent. (Reporting by Jan Harvey; editing by James Jukwey)

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