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Tuesday February 17, 01:01 PM
Daily gold transfers rise in January - LBMA

LONDON, Feb 17 (Reuters) - Gold ounces transferred between accounts held by bullion clearers rose 8.0 percent to a daily average of 18.8 million ounces in January from a month earlier, the London Bullion Market Association (LBMA) said.

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

Based on an average fixing of $858.69 an ounce, up 5.2 percent from the December average, value rose to a daily average of $16.2 billion. The number of transfers declined 6.9 percent to a daily average of 1,446.

Measured year-on-year, gold statistics were significantly lower. Ounces transferred fell 25.6 percent, value slipped 28.2 percent and the number of transfers slid 32.8 percent.

Ounces transferred in silver rose 9.4 percent to a daily average of 111.7 million. Based on an average fixing of $11.29, 9.8 percent higher than the previous month's average, the value of transfers rose to a daily average of $1.26 billion.

The number of transfers fell 8.1 percent to a daily average of 315. Measured year-on-year, ounces transferred fell 5.0 percent and value decreased 32.8 percent. The number of transfers fell 40.5 percent.

(Reporting by Jan Harvey; Editing by Keiron Henderson) Keywords: PRECIOUS GOLD/LBMA