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Gold is down 10+% since its recent peak. They likely sold then and repurchased later.
by huhtenberg 7mo ago
Gold is down 10+% since its recent peak. They likely sold then and repurchased later.
- mort96 7mo agoThen they made money thanks to gold prices fluctuating, not thanks to gold prices rising? And how does a 10% market shift lead to gaining $15b, roughly the value of 100 tons of gold, from the sale and re-purchase of 129 tons of gold? This math ain't mathing.
- danparsonson 7mo agoOther costs? Deviations in the actual figures from the estimates we're using here? 100 is not a million miles away from 129.
- defrost 7mo agoIt's more that the english ain't parsing, for some at least. The mining.com quote is classic weasel phrasing, seemingly meaningful yet disturbingly ambiguous: Due to rising gold prices, the move helped the bank to generate a capital gain of 13 billion euros ($15 billion), bringing it to a net profit of 8.1 billion euros for the 2025 financial year after a net loss of 7.7 billion euros in 2024. So, the move helped the bank generate ... Just as, say, one guy helped four others push a car back up on the road. We've been given, accurately or not .. likely true, figures on how the bank did over a period, we've also been told the gold movements helped with that ... so they almost certainly kicked in at least $1.
- Obscurity4340 7mo agoDoesnt selling stuff publicly somehow reduce the price for basically all the rest?