As at end May 2023, the amount of gold held in London vaults was 8,903 tonnes (a 0.7% decrease on previous month), valued at $562.3 billion, which equates to approximately 712,212 gold bars.

There were also 26,395 tonnes of silver (a 0.2% increase on previous month), valued at $19.7 billion, which equates to approximately 879,846 silver bars.

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.