Gold ounces up in June on month, value falls: LBMA

London (Platts)--14Jul2006

Gold ounces transferred rose in June but other clearing statistics were
mostly lower, the London Bullion Market Association said Friday.
Gold ounces transferred rose by 5.3% from May to 25.8 million oz in June,
the highest level for the month of June since 2000. Based on a fixing of
$596.145--$79 lower than in May--value fell to a daily average of $15.4
billion. The number of transfers was also lower, dropping 15.3% to a daily
average of 1,345 in June compared with 1,588 in May.
However, measured year on year, gold statistics were higher across the
board. Ounces transferred rose 35%, value was 88% higher and the number of
transfers increased 62.4%. In the marketplace, a sizable $80 separated the
high and low gold fixings in June. The first half of the month was dominated
by selling, after the fresh 25-year high posted in mid-May.
The market opened around the $630/oz level and traded up to the
month-high fixing of $644.50/oz on the third day of trading. Within two days
it had fallen $25, and subsequently only paused briefly before continued
selling pressure took the price below $600/oz, reaching the month-low fixing
of $567.25/oz on the morning of June 14.
Bullion then remained near $570/oz for several days before regaining the
$600 level towards the end of the month. It climbed to a final fixing of
$613.50/oz on the afternoon of June 30.

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