Documentation

3p ET Monday, May 19, 2025

Dear Friend of GATA and Gold:

Gold derivatives pose a risk to the world financial system, the European Central Bank said today in commentary written by four of its economists.

The commentary, headlined "What Does the Record Price of Gold Tell Us About Risk Perceptions in Financial Markets?," comes 25 years almost to the day after a GATA delegation led by Chairman Bill Murphy presented to Congress the organization's "Gold Derivative Banking Crisis" report, making the same point with far more extensive documentation:

This analysis was published today in Alasdair Macleod's financial letter at Substack and is reposted here by his kind permission. Macleod's letter is published every few days and a seven-day free trial subscription is available. Rates are $10 per month or $120 per year. To subscribe, please visit:

https://alasdairmacleod.substack.com/

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But China is probably not doing it any longer.

By Alasdair Macleod
Tuesday, February 25, 2025

11:37a ET Monday, February 3, 2025

Dear Friend of GATA and Gold:

The December statement of account of the Bank for International Settlements, due for publication last Friday, January 31, was posted at about 8:40a U.S. Eastern time today, showing, according to GATA consultant Robert Lambourne, a slight decline in the bank's gold swaps over the November level, from 81 tonnes to 78 tonnes:

https://www.bis.org/banking/balsheet/statofacc241231.pdf

By Robert Lambourne
Wednesday, December 11, 2024

The November statement of account for the Bank for International Settlements was published this week -- 

https://www.bis.org/banking/balsheet/statofacc241130.pdf

--  and it indicates that the volume of gold swaps undertaken by the BIS fell from 93 tonnes on October 31 to 81 tonnes on November 29, a decline of 12 tonnes or 13%.