So Central Bank Gold Is Being Held in Investment Bank Vaults
by Chris Powell
GATA.org
Dear Friend of GATA and Gold:
Today’s Reuters report about changes at the gold and currency trading desks of investment banks, which was called to your attention in a dispatch a little while ago –
http://www.reuters.com/article/2014/04/22/banks-gold-forex-idUSL6N0NE3K9…
– is notable for more than its acknowledgment that central banks are surreptitiously trading gold every day, an acknowledgement made last September by the Banque de France:
http://www.gata.org/node/13373
For in reporting that “banks that serve central banking customers with large bullion reserves to manage will have a greater need to offer gold trading and storage services,” Reuters also has acknowledged that much central bank gold is now held outside central bank vaults.
Source: http://financialsurvivalnetwork.com/2014/04/so-central-bank-gold-is-being-held-in-investment-bank-vaults/?utm_source=rss&utm_medium=rss&utm_campaign=so-central-bank-gold-is-being-held-in-investment-bank-vaults
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