Tag - Central Bank Gold

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Thursday, April 8 2021

Hungarian central bank boosts its gold reserves by 3000% in less than 3 years

The central bank of Hungary, the Magyar Nemzeti Bank (MNB), has just announced a purchase of a massive 63 tonnes of Good Delivery gold bars, and in doing so tripled the nation’s gold holdings from 31.5 tonnes to 94.5 tonnes.

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Friday, February 19 2021

Russian Gold Reserves

Russia sells 100,000oz in January

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Monday, August 31 2020

Europe Has Been Preparing a Global Gold Standard Since the 1970s

Jan has uncovered evidence through his research that returning to a Gold Standard is not far away from the minds of European central banks and it is consistent with gold repatriations in the last decade.

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Friday, January 10 2020

Currency hedge: RBI buys 15 tonnes of gold in Oct-Nov

The Reserve Bank of India stepped up hedging against currency volatility by purchasing 0.48 million troy ounce, close to 15 tonnes, of gold in October-November, central bank data showed.

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Tuesday, December 17 2019

US Official Gold Reserves Auditor Caught Lying

After my last publication, I have obtained more documents from the US Treasury through FOIA requests, which expose another falsehood that puts the auditor in an even more peculiar position. In conflict with the audit protocol, the permanent seals of the vault compartments have been broken, time and again. In addition, the auditor has lied about these events, and when confronted, it’s unable to explain its actions. By now, I have lost faith in the auditor fully.

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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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