Socio-Economics History Blog

Socio-Economics History Blog

London Silver Inventories Continue to Plummet as Metal Exits LBMA Vaults

by mosesman
Big Dipper – All Time Low for LBMA Silver Holdings
  • London Silver Inventories Continue to Plummet as Metal Exits LBMA Vaults
    by Ronan Manly, https://www.bullionstar.com/
    There is an unprecedented situation emerging in London, where the relentless hemorrhaging of one of the world’s largest stockpiles of silver is now well and truly under way.
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    For the last 9 months, this stockpile of silver, held in the LBMA vaults in London, has been consistently falling each and every month, and has now reached an all time low (since vault holdings records began in July 2016).
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    These vaults comprise the precious metals storage facilities in and around London run by the bullion banks JP Morgan, HSBC and ICBC Standard Bank, as well as the London vaults of three security operators, namely Brinks, Malca-Amit and Loomis. Since the system of vaults is administered and coordinated by the London Bullion Market Association (LBMA), these vaults are collectively known as the ‘LBMA vaults’.
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    Back in July this year, BullionStar highlighted this developing trend in the article titled “LBMA Silver Inventories fall to a near 6 Year Low below 1 billion ounces”. That article covered the vault data up to the end of June 2022, where the London silver holdings had reached the dubious milestone of having dropped below the 1 billion ounce level, specifically falling to 997.4 million ozs (31,022 tonnes).
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    read more.

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