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BOE Gold Commands High Premium, Signals Central Bank Buying

By

Yvonne Yue Li

and

Jack Farchy

27. toukokuuta 2021 klo 22.44 UTC+3 Updated on 28. toukokuuta 2021 klo 12.23 UTC+3

• Move driven by Bank for International Settlements buying
• Possible sign that central banks are adding to gold reserves
  Bloomberg reporting that Bank of International Settlements has bought 1mm ounces of Gold.

Gold stored at the Bank of England has been selling for unusually high premiums recently, signaling that central banks may be back in the market buying.Bullion in the Bank of England’s London reserves -- one of the largest stashes in the world --- is stored and sold on behalf of other central and commercial banks as opposed to being owned by the BOE itself. It usually trades within a few cents an ounce of the metal held at other London vaults run by commercial banks such as JPMorgan Chase & Co.