Bank of England tears up its Gold Custody contract with Venezuela

Ronan Manly In early November 2018, it first came to light that the Bank of England in London was delaying and blocking the withdrawal of 14 tonnes of gold owned by the Venezuelan central bank, Banco Central de Venezuela (BCV). At the time, Reuters and The Times of London both […]

Separating truth from fiction in China’s golden game of Poker

By Roman Manly This month the Chinese central bank reported that in December 2018, its gold reserve holdings increased by 10 tonnes, the first claimed increase in Chinese monetary gold holdings since October 2016. Based on previous patterns reporting patterns, a two year hiatus in reporting gold holdings is not unprecedented […]

Russian Central Bank buying Gold on the International market?

For a number of years now and even more so during 2018, the central bank of the Russian Federation, the Bank of Russia, has remained in the spotlight as one of the world’s largest gold buyers, each month adding substantial amounts of gold to its monetary gold stockpiles. Having bought […]

Venezuela’s gold in limbo amid tug-of-war at the Bank of England

As one of the world’s largest custodians of central bank gold, the Bank of England is attracting unwanted attention in a bizarre saga involving 14 tonnes of Venezuela’s gold. A whole cast of colorful characters has recently emerged on both sides, those wanting the gold to be returned and those […]

An early attempt at standardizing Money using international Gold Coins

Why do we have international standards for measuring time and length but not monetary value? A failed 1860s attempt to harmonize money provides insights. Last month the world settled on a new definition of the kilogram. Our success at harmonizing weights stands in contrast with our failure to establish a […]

French central bank and JP Morgan team up to boost Gold Lending

As JP Morgan partners with the Banque de France to expand gold lending out of Paris, bullion banks are having to look further afield to secure supply. The central bank gold lending market, centered in London, is probably the most secretive financial market in the world, with very little known […]

Gold Market Charts: November 2018 – Gold Market Charts – Gold Market Charts

BullionStar’s series of ‘Gold Market Charts’ articles look at recent developments in the world’s largest physical gold markets using illustrative gold market charts generated by the unique and insightful GoldChartsRUs.com gold market chart website. Physical gold markets covered include China, India, Russia, Switzerland, and of course, the London Gold Market. […]

Why the US Mint once issued gold discs to Saudi Arabia

This blog post is a guest post on BullionStar’s Blog by the renowned blogger JP Koning who will be writing about monetary economics, central banking and gold. BullionStar does not endorse or oppose the opinions presented but encourages a healthy debate. I stumbled on some strange gold discs earlier this year. They’re pictured below: […]

LBMA trading volume data confirms the paper gold casino in London

The London Bullion Market Association (LBMA) has just published  a new set of ‘trading volume’ data covering the London and Zurich over-the-counter (OTC) gold and silver markets. According to the new data, the equivalent of 939 tonnes of gold (30.2 million ounces) and the equivalent of 11,174 tonnes of silver (359.2 […]

Bank of England refuses to return 14 tonnes of gold to Venezuela – Ronan Manly

The Bank of England claims to be one of the largest physical gold custodians in the world, holding gold bars in vault storage on behalf of more than 70 central banks and a number of commercial (bullion) banks. As a long-standing and well-known gold custodian, it should therefore be a […]

Bank of England refuses to return 14 tonnes of gold to Venezuela

by Ronan Manly The Bank of England claims to be one of the largest physical gold custodians in the world, holding gold bars in vault storage on behalf of and a number of commercial (bullion) banks. As a long-standing and well-known gold custodian, it should therefore be a simple matter […]

Does the recent spate of Central Bank gold buying impact demand and price?

BullionStar Blogs Ronan Manly Posted on 5 Nov 2018 by Ronan Manly There has been a lot of media coverage recently about the re-emergence of central bank gold buying and the overall larger quantity of gold than central banks as a group have been buying recently compared to previous years. […]

No Transparency With LBMA’s New Trade Volume Data

As published on Tuesday the 30th of October 2018 by Ronan Manly at https://www.bullionstar.com/editorialarchive LBMA’s new trade volume data will do nothing for the transparency of the London Gold Market At its annual conference this week in Boston, the London Bullion Market Association (LBMA) announced that commencing 20 November, it […]

Gold’s Official Price is $42, and maybe that’s a Good Thing

BullionStar Blogs Ronan Manly Posted on 23 Sep 2018 by Ronan Manly   In September 2017, news emerged of a plan to launch a broad-based “Shareholders’ Gold Council” to address poor shareholder returns and under-performance in the gold mining sector. This plan was spearheaded by well-known hedge fund Paulson & […]

In surprise move, Central Bank of Hungary announces 10-fold jump in its gold reserves

BullionStar Blogs Ronan Manly Posted on 16 Oct 2018 by Ronan Manly   In one of the most profound developments in the central bank gold market for a long time, the Hungarian National Bank, Hungary’s central bank, has just announced a 10 fold jump in its monetary gold holdings. The […]

Skepticism reigns about the True state of Chinese central bank gold reserves

BullionStar Blogs Ronan Manly Posted on 12 Oct 2018 by Ronan Manly One of the most mysterious and unresolved questions in the gold world centers on how much gold reserves the Chinese State, through the Chinese central bank, actually holds. Since October 2016, the People’s Bank of China (PBoC), China’s […]

Sanctions Busting, European Style

BullionStar Blogs Posted on 4 Oct 2018 by BullionStar This blog post is a guest post on BullionStar’s Blog by the renowned blogger JP Koning who will be writing about monetary economics, central banking and gold. BullionStar does not endorse or oppose the opinions presented but encourages a healthy debate. U.S. officials were infuriated […]

LBMA Clearing and Vaulting data reveal the absurdity of the London ‘Gold’ Market

BullionStar Blogs Ronan Manly Posted on 1 Oct 2018 by Ronan Manly   The first day of each month sees the reporting of a number of statistics about the London Gold Market by the bullion bank led London Bullion Market Association (LBMA). These statistics focus on clearing data and vault […]

Paulson’s Shareholders Gold Council finally launches after initial delays

BullionStar Blogs Ronan Manly Posted on 23 Sep 2018 by Ronan Manly In September 2017, news emerged of a plan to launch a broad-based “Shareholders’ Gold Council” to address poor shareholder returns and under-performance in the gold mining sector. This plan was spearheaded by well-known hedge fund Paulson & Co […]

Chinese Gold Panda Coins now trading on the Shanghai Gold Exchange (SGE)

In an important development for the Chinese Gold Market, the Shanghai Gold Exchange (SGE) has just launched a physically delivered contract for trading Chinese Gold Panda coins. With this new contract, both institutional and individual investors in China can now trade and take delivery of China’s national gold bullion coin, […]