#Gold reserves at the LBMA's vaults rebounded in March, continuing a steady recovery from the lows recorded in early 2025. Total reserves now stand at 301.3 million ounces, nearly matching the levels of 2021-2022.

- London remains the center of the global physical gold market.
For much of the period from 2023, physical gold was continuously transferred from Western reserves to central banks, Asian traders, and long-term investors.
Today, the trend appears to be stabilizing as inventories gradually recover; however, despite the recovery, gold reserves remain below historical peaks while gold prices trade near record highs.
The upward trend in gold prices continues to be driven by central bank accumulation, capital inflows into ETFs, and increasing demand for tangible assets amid growing financial and monetary uncertainty.