Author: Sirhc

LBMA is the international trade association that represents the wholesale over-the-counter market for gold and silver bullion. LBMA undertakes many activities on behalf of its members and the wider market, setting industry standards including good delivery and refining standards, ownership of the precious metal benchmark prices as well as serving as a point of contact for the regulatory authorities. For more information, please visit www.lbma.org.uk.

1 August, 2019 Clearing Statistics Daily Averages - June 2019

Clearing Statistics Daily Averages - June 2019

Gold
The volume of ounces transferred in June increased by 30.4% month on month (m/m) to 24.2 million ounces, its highest volume for 18 months. The corresponding value increased by 38% to $32.9 billion. There were 3,997 transfers in June, 34.8% higher m/m, with the clearers settling on average 6,065 ounces per transfer, 3.3% lower m/m.

Silver
The volume of ounces transferred in June increased by 37.6% to 291.4 million ounces, with the corresponding value 37.6% higher at $4.37 billion. There were 1,329 transfers in June, up 35.9% from the previous month, with the clearers settling on average 219,262 ounces per transfer, 1.3% higher m/m. The gold / silver price ratio averaged 90.66 in June, the highest ratio for 26 years. Clearing statistics are published one month in arrears

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COURTESY OF CAMPAIGN FOR LIBERTY POSTED BY Norm Singleton August 01, 2019

Campaign for Liberty Chairman Ron Paul issued the following statement regarding the Federal Reserve’s announcement that it will be reducing interest rates for the first time in a decade:

“The Federal Reserve’s reduction of its benchmark interest rate from 2.25% to 2% is a textbook illustration of a popular definition of insanity: taking the same actions over and over again and expecting different results. Since the stock market meltdown of 2008, the Fed has unsuccessfully tried to pump up the economy via historic low interest rates and Quantitative Easing. As anyone except those who believe the government’s manipulated statistics knows, these policies failed to revive the economy. Instead of acknowledging its mistakes, the Fed is resorting to another rate cut in a desperate—and what will prove futile—attempt to forestall another central bank-created recession, albeit one exacerbated by President Trump’s destructive trade war.

The bright side of the Fed’s failure is that it will increase public interest in Austrian Economics and alternatives to the Fed, such as precious metals and crypto currencies, and auditing and ending the Fed. My Campaign for Liberty organization will continue to mobilize pro-liberty Americans to pass Audit the Fed legislation at the federal level and increase the number of states that have restored gold and silver as legal tender.”