Gold clearing statistics gain in April: LBMA

London (Platts)--12May2006

For the third month running, gold clearing statistics registered
across-the-board increases in April, the London Bullion Market Association
said Friday.
Gold ounces transferred in April rose by 26.7% to 26.1 million oz--the
highest level since May 2001. Based on a sharply higher average fixing of
$610.653--$53 higher than March--value rose to a daily average of $15.9
billion, a record high.
The number of transfers rose to a daily average of 1,388 from 1,156--the
highest level since December 1997 and the third-highest level on record.
Measured year-on-year, gold statistics were again sharply higher across the
board.
Ounces transferred rose by 82.8% and value more than doubled--the
monthly average price for April 2005 was $180 lower. The number of transfers
increased by 88.6%.
Gold reached the month-low fixing of $583.85/oz on the morning of the
third day of trading and had rallied $10 by the next day. The $600/oz level
provided temporary resistance, but that was broken on April 18, when gold
fixed sharply higher at $616.75/oz.
Gold encountered little resistance on its way to the month high fixing of
$644.50/oz two days later. It corrected down to the low $620s but quickly
recovered, finishing just off the high with a final fixing of $644/oz.

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