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Did Switzerland sell them themselves, i.e. were they flown back to Switzerland first or was the sale done by the Fed?
by chinathrow 10y ago
Did Switzerland sell them themselves, i.e. were they flown back to Switzerland first or was the sale done by the Fed?
- tonfa 10y agoI would assume the gold is typically never traded by moving it physically between location, but just brought into a vault where both parties have an account (like the Fed, or London) They didn't say how much gold they had at the Fed, just that they used to and that they no longer have any. https://www.bullionstar.com/gold-university/central-bank-gold-policies-swiss-national-bank https://www.bullionstar.com/gold-university/central-bank-gol... has a bunch of data. For example with the sell via the BIS, I assume they just transferred the gold within the Berne vault to BIS (BIS has an account there), and then let the BIS handle the sale. The London gold was likely already there.