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CME, LBMA say gold stocks healthy in New York and London

Reuters
·1 min read

(Reuters) - U.S. exchange operator CME Group Inc <CME.O> and London Bullion Market Association (LBMA) said on Wednesday that gold stocks remain healthy and depositories are operating normally, as the markets work toward easing market volatility.

The latest published numbers show record stocks of 8,326 tonnes of gold in London, which is equivalent to 666,045 standard 400-ounce gold bars, according to the LBMA, which oversees the London trade hub.

Meanwhile, CME said its New York depositories held 9.2 million ounces of gold with 5.6 million ounces eligible as of March 30, nearing a record high in terms of stock levels.

CME Group last week announced the initial listing of enhanced delivery gold futures that will be deliverable in 100-ounce bars, 400-ounce bars, or kilo bars, effective April 6.

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The announcement came after LBMA and several major banks that trade gold asked CME to allow gold bars in London to be used to settle its contracts to ease disruption to trading.

(Reporting by Eileen Soreng in Bengaluru; Editing by Matthew Lewis)