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For those seeking a more level-headed view, the Fed reports on foreign-owned gold monthly. Going back a couple of decades: Month Book value ($M) Tonne
by rsanek 28d ago
For those seeking a more level-headed view, the Fed reports on foreign-owned gold monthly. Going back a couple of decades:
Month Book value ($M) Tonnes
July 2006 8,967 6,606
July 2011 8,412 6,197
July 2016 7,883 5,807
July 2021 7,794 5,742
July 2026 7,812 5,755
The linked report is talking about a change of 1.5% from the latest-reported total amount in tonnes.
- csomar 28d agoJuly 2021 7,794 5,742 July 2026 7,812 5,755 Gold prices have exploded between these two dates. Am I missing something?
- 638d127673 28d agoThe table says book value. So might not be the market value of gold.
- sheepscreek 28d ago[dead]
- WarmWash 28d agoThe US government value of gold is hard pegged to $42/oz since 1973. Off by a factor of about 100 from market prices.
- aftbit 28d agoWhat is the value of this? Clearly the US won't sell me gold for $42/oz or the arbitragers would own the country, and nobody will sell the US gold for that amount ... so what does the $42/oz "peg" actually mean?
- wl 28d agoIf you're familiar with par value, it's the same thing. It's a measure to account for changes in asset holdings over time while neglecting changes in market value of that asset. They could have just used ounces to do the same thing here. It made more sense when there was a dollar peg.
- Waterluvian 28d agoDoes this mean a net of 13% of foreign gold has been removed from the U.S. since 2006?
- epistasis 28d agoIs it "level headed" to ignore the concerns of somebody pulling their gold out, even if they are a small country? Your figures do point out that the Netherlands's amount of gold is small, but it is not level headed to think that they are somehow alone or unrepresentative of far more countries with far more gold.
- 28304283409234 28d agoBruh, this is not about the amount of gold involved.