repatriate australian gold reserves...., page-57

Ophir

" holding gold in Australia makes it hard to sell? Please explain what you mean. Are you serious?"

Yes.

Australia doesn't have a wholesale bullion market. You can't deal volume in Australia on a T+2 basis. That is why the Australian Treasury stores its bullion reserves in London in the repository accepted by the LBMA price makers.

If we repatriated our bullion reserves, they would cease to have functional monetary value.