The Bundesbank successfully continued and further stepped up its transfers of gold last year. In 2014, 120 tonnes of gold were transferred to Frankfurt am Main from storage locations abroad: 35 tonnes from Paris and 85 tonnes from New York. … Read the rest
The Austrian state audit court says the central bank should address the concentration risk of storing 80% of its gold reserves with the Bank of England, Standard reports, citing draft audit report.
The court has advised the central bank to … Read the rest
European companies now have the opportunity to settle trading accounts in Chinese yuan. The Bank of China in Frankfurt has become the first to operate European yuan clearing. Trading costs will be cut as there will be no dollar exchange … Read the rest
I am typically hesitant to highlight foreign articles that have been translated by others from languages I can’t comprehend. That said, Koos Jansen of In Gold We Trust, is someone who does great work and so I am running with … Read the rest
Following the most recent shift ‘away’ from a USD-centric world (with the China-Australia direct currency convertibility), it seems the possibility of China’s Yuan as the next global reserve currency is getting closer. The Brits, Germans, and now the Swiss (who … Read the rest