The average price of gold in December fell 1.6% to $1,068.25/troy oz, from a November average of $1,085.70/oz, the London Bullion Market Association said Friday.
The volume of ounces transferred increased by 36.8 % to 23.6 million, its highest level since June 2013, with the corresponding value of gold transferred up nearly 35% to $25.2 billion.
This could signal buying interest at the lower price levels.
"The number of transfers was broadly flat at 2,702 while the number of ounces per transfer increased significantly to 8,732, to its highest ratio since January 2012," the LBMA said.
Following the recent resignation of Deutsche Bank as a clearing member of the London Precious Metals Clearing Ltd, this data represents transfers between the five remaining members Barclays, HSBC, JP Morgan, Scotiabank and UBS.
The average price of silver in December fell by 3.1% to $14.05/oz, its lowest monthly average since July 2009.
"The volume of ounces transferred was up 7.5% to 166.1 million, with the value of ounces transferred increasing by 4.1% to $2.33 billion," the LBMA said.
The number of transfers increased by 2.5% to 732, with the clearers settling on average 226,833 oz per transfer, representing an increase of nearly 5% from November.
The LBMA Gold Price settled Friday afternoon at $1,111.80/tr oz with the Silver Price at $14.08/tr oz.
