Secret Londons gold reserves amount about to be revealed

It has never been clear how much gold has the Bank of England got stored. But the London Bullion Market Association (LBMA) is about to change that.

Keep on reading and find out what is happening in the gold market of the capital of Great Britain.

Transparency in the gold market is a priority for the LBMA. That is why the entity has decided to shed some light on the amount and ownership of the gold stored in the Bank of England.

Estimations

It is estimated that the Bank of England holds about 400 thousand gold bars worth at least $150 billion. However, it is known that not all that gold belongs to the United Kingdom alone: many central banks as the “SPDR Gold Shares”, keep their treasures there too.

But, how much gold does exactly belong to London?

The role of the LBMA

Even though the gold trading in the capital of Great Britain equals to approximately $26 billion, no one knows the exact volume of London’s gold reserves. The LBMA is willing to investigate this fact and will make the figures go public soon.

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