4 ms·
Pull it. The French sold theirs and bought new stock on the European market.
by mrlonglong 6mo ago
Pull it.
The French sold theirs and bought new stock on the European market.
- OutOfHere 6mo ago"Pull it" and "sell it" are different actions. Given the timing, it seems like a financial loss to sell it relative to holding it as gold.
- daneel_w 6mo agoDoesn't that depend on when they acquired the gold and at what price? It has roughly tripled in just 10 years, and increased tenfold since the early 2000s.
- FabHK 6mo agoWhat loss? The idea is to sell it in NY, and buy it back in Europe. You lose the bid-ask spread.
- mrlonglong 6mo agoNah. Sell this rather suspect gold and buy better quality gold on the European market. Did you even read the article?
- OutOfHere 6mo agoGold is gold. There is no such thing as suspect gold. It can always be subject to a purity test. Those who buy much gold, e.g. Apmex, always do it. The fact that France was able to sell the gold validates that it was gold.
- mrlonglong 6mo agoThere's different grades of fine. What may be acceptable in the US is probably not what the EU's idea of what purity it should be.