In November, the press, as well as GoldBroker, announced the creation of a gold market in Paris, associating the Banque de France and the American bank JP Morgan. The news didn’t make any headlines and wasn’t much commented on, but now is the time to review this creation by shedding a new light on it, along with some revelations. First, let’s point out that this is not a gold market in the traditional sense, namely that would quote Napoléons and bars, the two preferred pillars of the precious metal in France. That type of market has existed from 1948 to 2004, but its trading volume, too small, due to a heavier tax system than in the other European countries, led to its demise. As a very well informed article in Revue Banque explains, Banque de France’s gold reserves will be “mobilized” in order to guarantee gold/currencies swaps and gold leasing. As of now, only other central banks will be able to use those financial products with the Banque de France, but since it...
from GoldBroker.com https://www.goldbroker.com/news/alert-banque-de-france-gold-isnt-sanctuarized-anymore-jpmorgan-1461
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