Gold and silver trading hits record levels in 2008

Gold turnover increased 58% in 2008 to a record $20.2 trillion, while silver trading increased 39% during the year to a record $2.6 trillion. IFSL says the growth in turnover was partly due to an increase in prices of precious metals during the year with gold posting an all time high in March of $1011 per ounce.

The OTC market accounted for nearly three-quarters of gold trading and 56% of silver trading. Most of this activity was transacted through the LBMA (London Bullion Market Association). Da