Small decline in BIS gold swaps in February
Gold swaps continue to be an important source of gold used in the BIS gold banking business with 53% of…
Continue readingGold swaps continue to be an important source of gold used in the BIS gold banking business with 53% of…
Continue readingThe recent level of gold swaps is the highest use of them by the BIS for at least 20 years. It also seems likely that the swaps are…
Continue readingThere is no clear downward trend in the volume of swaps, and hence it seems premature to claim that…
Continue readingOnce again it is shown that the BIS…
Continue reading“…swaps provide a mechanism for bullion banks to return gold originally lent to them by central banks to cover possible shortfalls…”
Continue readingDespite this reticence the BIS is almost certainly acting on behalf of central banks in…
Continue readingThe BIS seemingly remains an active trader of significant amounts of gold swaps on a regular basis. So far there seems to be no definitive sign that the BIS…
Continue readingExpect the BIS to have to unwind these swaps soon?
Continue readingThe BIS seemingly remains an active trader of significant amounts of gold swaps on a regular basis. A review of…
Continue readingThe BIS had effectively no exposure to gold price risk, and in the eyes of all the Basel accords, including Basel, 3 the bank would have no…
Continue readingTo what extent are central banks successful in suppressing the gold price?
Continue readingIt is likely that the current level of gold swaps is the highest use of them by the BIS for at least 20 years. It also seems likely that…
Continue readingDespite this reticence the BIS is almost certainly acting on behalf of central banks in taking out these swaps, as the central banks are the…
Continue readingNo explanation for the continuing high level of swaps has been published by the BIS. Indeed, the bank has offered…
Continue readingTo put this into context, the volume of the BIS’ gold swaps remains larger than the 504 tonnes of gold held by the ECB. The BIS has…
Continue readingThe BIS’ use of gold swaps and derivatives has been extensive…
Continue readingWhile gold was unable to sustain its move over $2,000, for now, the overt price intervention efforts over the last 4 weeks have, at best…
Continue readingThe use of gold swaps and derivatives by the BIS has been extensive…
Continue readingThe BIS’ use of gold swaps and derivatives has been extensive…
Continue readingThe BIS long has acted on behalf of the Federal Reserve and has done so via swaps and crucially has been prepared to take on credit risk. This invites…
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