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BIS gold swaps rose slightly in June, showing central banks still intervene surreptitiously
11:23a ET Friday, July 25, 2025
Dear Friend of GATA and Gold:
GATA consultant Robert Lambourne reports today that the gold swaps undertaken by the Bank for International Settlements changed little in June, rising by 2 tonnes over the swaps on the bank's books in May, going from 32 up to 34 tonnes.
The increase isn't ever made explicit by the BIS but it can be calculated from the bank's monthly statements of account, and the June statement was published yesterday:
https://www.bis.org/banking/balsheet/statofacc250630.pdf
The bank, an organization of major central banks, has been dealing in gold swaps since at least 2009, and those swaps are usually the most contemporaneous proof of constant surreptitious intervention in the gold market by central banks, quite apart from the gold purchases some central banks announce occasionally.
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This dispatch written by Lambourne several weeks ago provides some history about the transactions:
https://www.gata.org/node/23935
The swaps may be even more interesting for the refusal of mainstream financial news organizations to take note of them since the Financial Times first reported about them in 2010. As the saying goes, news is what somebody doesn't want published, and the rest is just advertising.
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
CPowell@GATA.org
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