As at end March 2025, the amount of gold held in London vaults was 8,488 tonnes (a 0.14% increase on previous month), valued at $850.1 billion, which equates to approximately 679,068 gold bars.

There were also 22,127 tonnes of silver (a 1.5 % decrease on previous month), valued at $24.2 billion, which equates to approximately 737,563 silver bars.

While stocks in the Bank of England declined by a similar pace to that seen in February, gold stocks in London’s commercial vaults in fact increased again this month. This again highlights that gold is moving from BoE into the Loco London system. Silver outflows were just under 70% lower in March compared to February.

These figures provide an important insight into London’s ability to underpin the physical OTC market.

The publication on the fifth business day of each month of the amount of gold the London vaults were holding at the end of the previous month follows the recent move to publish the equivalent data for silver. It represents a continued move towards greater transparency and timeliness.