Inside the Gold Vault of the Portuguese Central Bank – Ronan Manly

On Tuesday 17 May, the central bank of Portugal brought a group of Portuguese reporters and photographers on a visit to its gold vault located in a high security compound in a town called Carregado, about 30 minutes drive north-east of Portugal’s capital Lisbon. The Portuguese central bank, known as […]

Lack of audits undermine Lebanon’s claim to be Middle East gold heavyweight

With claimed gold reserves of 286 tonnes, Lebanon’s central bank – Banque du Liban – trumpets itself as being one of the Middle East’s largest sovereign gold holders. In fact, on a regional basis, only the claimed gold reserves of Saudi Arabia are larger. Indeed, Banque du Liban governor Riad […]

Kremlin confirms intention to Back Ruble with Gold and Commodities

On Tuesday 26 April in an interview with newspaper Rossiyskaya Gazeta (RG), the Secretary of the Russian Federation’s Security Council, Nikolai Patrushev, said that Russian experts are working on a project to back the Russian ruble with gold and other commodities. The interview, which is in Russian, can be seen […]

Where is the Russian Federation’s Gold Stored? – Ronan Manly

In the current environment of weaponised Western sanctions against Russia, and the critical importance of monetary gold reserves as Russia’s ultimate asset, a timely question to ask is where Russia’s gold reserves are actually stored. The location of Russia’s gold reserves is especially intriguing given the ongoing freeze of Russia’s […]

China and Russia in Close Cooperation aiming for Win-Win in Gold Markets

In a development which the participants understood the importance of then, but which the wider financial markets may understand the importance of going forward, on 29 June 2021 the Shanghai Gold Exchange (SGE) hosted a China-Russia Precious Metals Webinar with Russia’s de facto precious metals authority the “Self-Regulatory Organisation ‘National […]

Spotlight on Gold and Silver Mining Share Indexes – Part 1 – Ronan Manly

When glancing through news articles about precious metals prices, you will often come across references to the performance of various gold and silver mining stock indexes, as well as the exchange traded funds (ETFs) that are benchmarked against these indexes. While old timers will be familiar with the XAU and […]

Russian Ruble relaunched linked to Gold and Commodities – Q and A

With Russia’s central bank having just profoundly altered the international trade and monetary system by linking the Russian ruble to both gold and commodities, the journalists at in Moscow asked me to write a Q and A article on what these developments mean, and the ramifications of these changes […]

Russian Palladium and Platinum – Too Important to Sanction

When on 7 March, the London Bullion Market Association (LBMA) suspended 6 Russian precious metals refiners from the London Good Delivery Lists for Gold and Silver, and in the process blocked from the London market any new gold and silver bars produced by these refiners, one unanswered question was whether […]

LBMA a deer in headlights as Western Sanctions show up Russian Gold Refiners

Following first the threat of invasion and then the actual Russian invasion of Ukraine, a range of sanctions against Russia by a range of countries have inevitably been announced and rolled out. UK Sanctions against Russia On 22 February, the UK Government announced asset freezes against a range of Russian […]

BullionStar Financials FY 2021 – Year in Review – BullionStar

This post reviews BullionStar’s financial performance and milestones for the financial year ending 30 June 2021 (FY 2021). At BullionStar, we have a long-standing tradition of sharing our financials transparently. We share key sales and revenue data, including sales percentage per precious metal, sales percentage per product category (bars and […]

Bloomberg hit piece on UAE gold triggers strong response from DMCC’s Bin Sulayem

On 28 December, as 2021 was coming to a close, Bloomberg published a curious, slanted and hypocritical article titled “Dubai can’t shake off the stain of smuggled African gold”, in which it attempted to connect gold mined from various troubled African countries to gold imports into the UAE and Dubai.   […]

Coordinated Jawboning from Central Bank’s but “You Can’t Taper a Ponzi”

For the world’s financial markets which have become literally dependent on the pronouncements of central banks, this week is lining up to be one of the most important in a while. Because this week no less than 4 of the world’s most powerful central banks are each meeting to discuss […]

Irish central bank raises gold reserves by 33%, worried by inflation

By Ronan Manly Recently the Central Bank of Ireland joined the ranks of sovereign gold buyers, adding 2 tonnes of gold to its monetary gold reserves in 2 months, consisting of a tonne of gold bought in each of September and October 2021. While in relative terms, the actual quantity […]

In low key move, Singapore’s central bank adds 26 tonnes to it’s gold reserves

It has just come to light that Singapore’s central bank, the Monetary Authority of Singapore (MAS), added 26.35 tonnes of gold to its official monetary gold reserves over a 2 month period between May and June this year, in the process boosting its strategic gold holdings by 20% to a […]

Bullion Banksters pay $50 million to Get Out of Jail Free

By Ronan Manly This week, news emerged that the final three defendant banks in a gold price manipulation class action lawsuit had, surprise, surprise, paid to settle the lawsuit, and all claims against them will be dismissed, in essence they have bought a ‘Get out of Jail free’ card. Although […]

Bullion Banksters pay $50 million to Get Out of Jail Free

In another example of ‘Too Big to Jail’, the banks of the LBMA Gold Fixing cartel have now all paid their way out of a class action lawsuit. Powered by WPeMatico

Amid ongoing hyperinflation, gold shines as money in Venezuela

With inflation surging worldwide in everything from the prices of energy to raw materials to consumer goods, there is growing acceptance (except from central bankers) that this inflationary trend is not only not transitory, but given the backdrop of accelerated global money printing and fiat currency debasement, that it could […]

Swiss pressure against UAE gold imports causes sharp rebuttal from Dubai

There have been some intriguing new developments in the ongoing competitive confrontation between the United Arab Emirates (UAE) / Dubai gold market and the incumbent  ‘western gold market’ (centred on the LBMA London gold market and the LBMA Swiss gold refineries). Readers may recall some previous BullionStar articles on this […]

Poland accelerates gold buying: Plans to purchase 100 tonnes during 2022

Poland’s central bank, the National Bank of Poland (NBP), which stunned gold markets back in 2019 when it purchased 100 tonnes of gold bars in London and then promptly flew the gold back to Warsaw, has just confirmed that it now plans to buy another 100 tonnes of gold during […]

Indian Central Bank Accumulating Large Quantities of Gold almost under the Radar

While large one-off central bank gold purchases get a lot of media attention and the same is true for central banks accumulating gold reserves over a two or three month period, sizeable accumulation of gold by central banks on a month in, month out basis, with the exception of the […]