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Robert Lambourne: June shows no change in BIS intervention in gold
By Robert Lambourne
Monday, June 16, 2018
The Bank for International Settlements has published its June statement of account, which gives some information on its use of gold swaps and other gold-related derivatives in the month:
https://www.bis.org/banking/balsheet/statofacc180630.pdf
The information provided in the BIS monthly statements is not sufficient to calculate a precise amount of gold-related derivatives, including swaps, but it appears that the bank's total exposure as of June 30, 2018, was approximately 413 tonnes of gold, which is essentially unchanged from May.
When it comes to its activities in the gold market, the BIS provides little information on what it is doing, why, and for whom.
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Robert Lambourne is a retired business executive in the United Kingdom who consults with GATA about the involvement of the Bank for International Settlements in the gold market.
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