GOLD NEWS

BIS December Report Appears Belatedly, Shows Slight Decline in Gold Swaps

Tue Feb 04 2025

The December statement of account of the Bank for International Settlements, due for publication last Friday, January 31, was posted at about 8:40a U.S. Eastern time, showing, according to GATA consultant Robert Lambourne, a slight decline in the bank's gold swaps over the November level, from 81 tonnes to 78 tonnes:

GATA wrote to the bank's press office Sunday afternoon to ask for an explanation about the missing report but has received no reply.

Amid the gold shortage turmoil in the London gold market, it seemed fair to suspect that the BIS monthly report was being withheld for interventional reasons, what with the Bank of England busily leasing gold to keep the price of the monetary metal from rising, and with the London Bullion Market Association and the New York Commodities Exchange admittedly coordinating their responses to the shortage as if gold price management is part of their business too.

Will any of those financial analysts and gold industry leaders who long have denied that the gold price is being suppressed as a matter of government policy please step up and let the world know if they still think that the gold market is free and fair and that governments and central banks couldn't care less about the once and perhaps future world reserve currency? We'd love to hear from them.

Source: https://goldseek.com