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8 results for “refinery” in Markets
Markets · 8 August 2026
Moving Bullion: The Logistics Nobody Prices
…ormats? Because re-casting requires melting, re-assaying and re-stamping at an accredited refinery, and refining capacity is finite and scheduled around existing customer orders. In calm markets the queue is short; in a stressed market, when many holders want the same conversion…
Ingrid Sørensen · 15 min read
Markets · 2 August 2026
Who Actually Sets the Gold Price
…hmark exists because an enormous volume of contracts needs a defensible reference number: refinery supply agreements, mine hedges, jewellery wholesale terms, fund valuations. What it is not is the place where the price is discovered. Discovery happens continuously, all day, acros…
Ingrid Sørensen · 16 min read
Markets · 20 June 2026
Bring It Home: Central Banks and the Great Gold Repatriation
…its market fungibility but adds cost, time and, ironically, a queue at the same class of refinery this magazine has covered elsewhere. · Confidential routing and staggered shipments to avoid concentrating risk in a single flight or vessel. Independent verification on arrival: we…
Ingrid Sørensen · 14 min read
Markets · 17 August 2026
Paper Gold: What You Own When You Do Not Own Bars
…lume dwarfs annual mine supply, and why that comparison is close to meaningless. A hedged refinery may turn its position over daily; the same tonne of metal generates volume repeatedly without anyone claiming to own it twice. The futures market is not a warehouse; it is a giant i…
Ingrid Sørensen · 23 min read
Markets · 11 September 2026
The Last Audit: What We Actually Know About the World's Official Gold
…That is what proof looks like in this market — you melt the past and weigh it. Frankfurt refinery technician who worked on the recasting programme · The leasing layer, and the number nobody publishes · The third layer of the composite — gold out on lease or in swaps — is where t…
Ingrid Sørensen · 22 min read
Markets · 6 August 2026
Why Central Banks Started Buying Gold Again
…ket analysts, this means that official demand must often be inferred from trade flows and refinery data rather than taken directly from official statements. · The paradox is that while the market craves transparency to price gold accurately, central banks require opacity to execu…
Ingrid Sørensen · 14 min read
Markets · 8 September 2026
The Real-Rate Trade: Why Gold Moves When Bond Yields Do
For two decades the gold price could be read off an inflation-linked bond screen. Then, somewhere after 2022, the relationship stopped behaving — and the argument about why has become the most consequ…
Ingrid Sørensen · 25 min read
Markets · 18 August 2026
The Vault Beneath the City
Beneath the Bank of England and beneath lower Manhattan sit two of the largest concentrations of monetary gold on earth, moved between anonymous compartments by a handful of porters who never touch th…
Ingrid Sørensen · 22 min read
