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Gold/Mining/Energy : Gold Price Monitor -- Ignore unavailable to you. Want to Upgrade?

To: Crimson Ghost who wrote (37853)	7/27/1999 1:06:00 AM
From: PaulM	Read Replies (1) \| Respond to of 116957

Another Interesting Tidbit: "RBI to Keep More Gold Stocks Abroad" "The Reserve Bank of India plans to shore up the gold stock held offshore by entering into "location swap" transactions with bullion-selling banks in the country.... .... ...the central bank will supply a certain agreed quantity of gold from its vault at Nagpur to nominated banks...[Next]The second leg of the transaction will involve RBI simultaneously buying an equivalent quantity of gold supplied by it to the nominated agency from the overseas supplier of the nominated bank for credit to the RBI account in London with the Bank of England.... .... The net effect of the swap will be that gold currently held in the RBI's vaults in Nagpur will be held in its gold account at the Bank of England...." indian-express.com P.S. The Fed provides liquidity to "fully booked" up banks by loaning at the discount rate. Think it's much of stretch to say that the CB's, particularly the BOE, similarly provide liquidity to a gold market in need at the lease rate?