Tag - Central Bank Gold

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Wednesday, December 4 2019

Mongolia's central bank buys 14.4 tons of gold in first 11 months this year

Mongolia's central bank announced on Tuesday that it has bought a total of 14.4 tons of gold from legal entities and individuals in the first 11 months of this year.

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Friday, November 29 2019

Gold Is New Obsession for East Europe’s Nationalist Leaders

Gold is all that nationalist leaders in Europe’s east can talk about these days.

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Polish central bank airlifts 8000 gold bars (100 tonnes) from London to Warsaw

In early July, BullionStar covered the notable news from Poland’s central bank, that it had boosted its monetary gold reserves to 228.6 tonnes by buying 125.7 tonnes over the 2018-2019 period, with a staggering 100 tonnes of this total purchased at the Bank of England in London during the first half of 2019.

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U.K. Can’t Be Trusted With Gold, Top Slovak Party Leader Says

Slovakia's former premier said today parliament should force the central bank to bring back the nation's gold stored in the United Kingdom as history has shown that allies "can hardly" be trusted.

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Wednesday, November 27 2019

Ukraine’s IMF Gold and the Gold Carry Trade

Let’s first consider a typical International Monetary Fund (IMF) loan to a sovereign in trouble, and then examine a typical gold carry trade transaction to support a sovereign arms deal. The intent is to demonstrate the importance of physical sovereign gold holdings in all forms of international trade.

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Monday, November 25 2019

Polish gold reserves brought home

Around 100 tonnes of Polish gold has been brought to the country, the National Bank of Poland (NBP) announced on Monday.

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German Central Bank: Gold Is the Bedrock of Stability for the International Monetary System

Currently, Exter’s Pyramid has grown too big and is unstable. The moment the pyramid falls, “gold will do its job.” History teaches us gold protects its owners through all types of weather, and central banks know this. Ever wondered why virtually every central bank owns gold? Because gold is physical. Immutable, yet divisible. Independent and without counterparty risk. It is the ultimate store of value—as it retains its purchasing power through time—and works as an eternal payment instrument.

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Thursday, November 14 2019

Serbia Buys Nine Tons of Gold to Heed President’s Crisis Advice

Serbia’s central bank bought nine tons of gold in October, raising its reserves of the precious metal on the advice of President Aleksandar Vucic.

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Tuesday, August 27 2019

World needs to prepare for return to gold standard as Washington disrupts financial order

This development points to the necessity of seeking and building a new financial order, which is the fundamental basis for the re-emergence of the gold standard in the world financial market.

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Monday, August 19 2019

PNG aims to retain 30% of exported gold, may change currency pegs

Papua New Guinea wants to retain at least 30% of the gold it currently exports as it transforms its economy under a new government leadership, the country’s commerce minister said on Monday.

Mori said that PNG would also consider pegging its currency, the kina, to gold, rather than the U.S. dollar.

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Thursday, August 1 2019

Central Bank Hunger for Gold Lifts Demand to Three-Year High

Central banks continued to load up on gold in the first half, helping push total bullion demand to a three-year high, according to the World Gold Council.

Nations added 374.1 tons in the first six months as Russia and China kept building reserves and Poland made a massive purchase. The trend is expected to continue, with a recent survey of central banks showing 54% of respondents expect global holdings to climb in the next 12 months.

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Saturday, July 27 2019

By Not Renewing the CBGA, Central Banks in Europe Look Ready to Buy Gold

As none of the CBGA cartel central banks “currently has plans to sell significant amounts of gold“, has it been a case of gold buying envy as Russia, China and even and have piled into the yellow metal? It would certainly seem so.

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Gold deal ends among European central banks

The European Central Bank says it and 21 national central banks in Europe are letting an agreement regulating gold sales expire, saying the deal struck two decades ago to stabilize the market for the precious metal is no longer needed.

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Friday, July 19 2019

Towards new 'de facto' gold standard

'If we use all of our foreign exchange reserves to buy US Treasury bonds, then when someday the Federal Reserve suddenly announces that the original 10 old dollars are now worth only one new dollar, and the new dollar is pegged to the gold – we will be dumbfounded.'

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Thursday, July 11 2019

Powell explains why a return to the gold standard would be damaging

“If the appeal of cryptocurrencies is their capacity to provide a common currency, and to maintain a uniform value for every issued unit, we need only consult historical experience to ascertain that these same qualities were achieved through the classical international gold standard,”

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Monday, July 8 2019

Poland joins Hungary with Huge Gold Purchase and Repatriation

Whatever the exact motives, both Hungary’s and now Poland’s gold purchases and repatriations are sending clear signals to the EU elites that in the realms of both politics and monetary policy, that two countries still have an independent streak and sense of national sovereignty found lacking in many other EU member states.

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Poland Central Bank Gold Reserves Rise Sharply In The Month Of June

In an increasing globe trend, we note with interest the following statements made by the National Bank of Poland (NBP). Between 2005 and 2019, the NBP’s gold holdings increased by 125.7 tonnes to 228.6 tonnes and they also confirmed that nearly 50% of Polish gold will be repatriated to their country.

However what is even more telling is that, 95 tons of this increase can be attributed only to the month of June this year.

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Thursday, June 20 2019

The Fifth Wave: A new Central Bank Gold Agreement?

So will there be a new central bank gold agreement announced in the next few weeks? Word on the street is that large institutions are being quizzed by the obedient World Gold Council and being asked if they in favour of a new CBGA or not. Given that the whole CBGA scheme was a cover whose main purpose has already been achieved, there is no compelling logic for a fifth CBGA, except of course unless there have been further physical gold flows out of western central banks which need to be squared off in the books.

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Wednesday, June 5 2019

Venezuela Defaults on Gold Swap With Deutsche Bank

Venezuela has defaulted on a gold swap agreement valued at $750 million with Deutsche Bank AG, prompting the lender to take control of the precious metal which was used as collateral and close out the contract, according to two people with direct knowledge of the matter.

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Monday, June 3 2019

Who Owns the World’s Gold Reserves

A common theme in economics is “those who own the gold make the rules.” Recent statistics suggest a large disparity between the top gold holders in the world and those governments holding less of the yellow metal.

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