The results of the survey are summarised below in terms of daily averages during the period (Figure 1). Also shown for comparison are the clearing turnover statistics. It should be noted that the figures provided for trade between members were divided by two in order to avoid double counting. This is rather conservative in that many of the trades reported with members would be with members that were not themselves reporting. The figures for sales and purchases should be added to get an idea of the total trading turnover.

It can also be seen that there is an approximately ten to one ratio between the turnover figures and the clearing statistics (Figure 2). It can be seen that spot transactions form the large majority of the total (around 90%), with forwards and other transactions each representing around 5%. The average daily trading volume in the London market in this period was 173,713,000 ounces or $240.8 billion (Figure 1).