LBMA overstates silver inventories, gold price stalls despite record inflation, what’s going on?

In a statement released to Kitco News, the LBMA stated that “The incorrect information regarding March silver stocks, which has now been amended, arose from an incorrect data submission.

LBMA is working to ensure such a mistake does not occur in the future.

Currently, LBMA queries any submission which is off-trend than previous submitted numbers and asks for the submitter to reconfirm their numbers.

“It looks like an accounting error, a mistake on the part of one of the depositories reporting to the LBMA how much metals they had at the end of the month.

Importantly, interest rates rose significantly on the news, with the 10-year U.S.

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