The London Bullion Market Association recently chose a new administrator for its silver price auction, and scientists have discovered a variety of rice that accumulates and stores naturally occurring silver in the soil.
The Silver Institute covers these stories, and highlights several other technological innovations involving silver, in its latest issue of Silver News.
You can call London the City of Gold.
According to figures released by the London Bullion Market Association (LBMA), as of March 31, vaults in London held 7,449 tons of gold. That’s the equivalent of about 596,000 gold bars. The value of the yellow metal stored in London vaults is close to $300 billion.
London is also home to 32,078 tons of silver valued at $19 billion. That’s roughly the equivalent of 1,069,255 silver bars.
The amount of gold in the city underscores its position as the world’s biggest gold trading center.