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8 results for “Wohlwill process” in Markets
Markets · 17 August 2026
Paper Gold: What You Own When You Do Not Own Bars
…UM clearing system, which settles the vast majority of global gold transactions through a process of 'netting'. Instead of moving bars for every trade, the clearing banks calculate the net difference between what they owe each other at the end of each day and settle the balance t…
Ingrid Sørensen · 23 min read
Markets · 18 August 2026
The Vault Beneath the City
…mall, symbolic test withdrawal of gold from the New York Fed to confirm that the transfer process worked as expected, and then announced a formal plan to repatriate 674 tonnes from New York and Paris to Frankfurt by 2020. The operation, when it actually ran, moved faster than sch…
Ingrid Sørensen · 22 min read
Markets · 8 August 2026
Moving Bullion: The Logistics Nobody Prices
…Swiss refining corridor · Switzerland's role is industrial: a handful of large refineries process a disproportionate share of the world's newly mined and recycled gold, converting it between the bar formats different regional markets demand. Swiss customs data on gold imports and…
Ingrid Sørensen · 15 min read
Markets · 20 June 2026
Bring It Home: Central Banks and the Great Gold Repatriation
…. · Central banks have nonetheless been doing exactly this. Over the past decade a steady procession of reserve managers has repatriated metal that had sat abroad, in some cases since the 1950s. The Bundesbank's multi-year programme to bring holdings back from Paris and New York…
Ingrid Sørensen · 14 min read
Markets · 11 September 2026
The Last Audit: What We Actually Know About the World's Official Gold
…very returned bar was melted down and recast to current London Good Delivery standard — a process that weighs the metal, assays its fineness and produces a new, verified bar with a new serial number. You cannot hide a tungsten core through a melt. The Bundesbank reported no discr…
Ingrid Sørensen · 22 min read
Markets · 8 September 2026
The Real-Rate Trade: Why Gold Moves When Bond Yields Do
…one variable to rebuild its account of what actually sets the price. This reconstruction process has revealed a much more complex and globalized set of drivers, moving away from a US-centric model and towards one that incorporates geopolitical risk, sovereign reserve management,…
Ingrid Sørensen · 25 min read
Markets · 2 August 2026
Who Actually Sets the Gold Price
…erstanding by the older fixing arrangement, in which a small group of banks conducted the process by telephone. That system was replaced after regulatory scrutiny with an electronic, auditable, wider-participation auction. The reform is real, and the criticism that produced it wa…
Ingrid Sørensen · 16 min read
Markets · 6 August 2026
Why Central Banks Started Buying Gold Again
For three decades official institutions were net sellers of bullion, and the policy consensus treated the metal as a museum piece. Then, quietly, the world's reserve managers reversed. The reasons are…
Ingrid Sørensen · 14 min read
