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Tuesday, June 2nd, 2020 MST

Central bank gold storage

The issue of where a central bank stores its gold remains on the forefront.

The Dutch people want to know where the Dutch gold is stored.  Venezuela called home some 160 tons that previously was held in the US, London and Canada.  China has made it clear where its gold is to be with the export of gold prohibited and import licenses being liberalized.

Iran, which has become odd-man-out on the world’s political stage, sometime ago repatriated its gold from London.

Meanwhile, US gold reserves are stored (supposedly, no way to verify) between Ft. Knox and the Fed NYC vaults.  Another important issue as to “US gold”: who has title?  The US Treasury or the Fed?  I’ve never had this question answered to my satisfaction.  Foreign publications carry articles about “Fed gold holdings,” while domestic publication suggest US gold is owned by the US Treasury.

Julian Phillips of goldforecaster.com wrote an excellent piece on the importance of where a central bank stores its gold.

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