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8 results for “repatriation and audits” in Markets
Markets · 20 June 2026
Bring It Home: Central Banks and the Great Gold Repatriation
…tody was a Cold War convenience: gold near a trading centre could be mobilised quickly. · Repatriation is driven less by distrust of custodians than by the demonstration that reserves can be immobilised. · Bringing gold home imposes real costs: vault construction, insurance, audi…
Ingrid Sørensen · 14 min read
Markets · 11 September 2026
The Last Audit: What We Actually Know About the World's Official Gold
…t substitutes a custodian's attestation for physical inspection by the owner. · Germany's repatriation programme, completed in 2017, was as much an audit as a move: every returned bar was melted, assayed and recast — the most thorough verification any major holder has published.…
Ingrid Sørensen · 22 min read
Markets · 18 August 2026
The Vault Beneath the City
…d to a specific owner and never mixed with the Bank's own holdings. · Germany's 2013–2017 repatriation of 300 tonnes from New York and Paris was driven by domestic politics as much as by any custodial concern. · Venezuela's gold, held at the Bank of England, has been frozen since…
Ingrid Sørensen · 22 min read
Markets · 17 August 2026
Paper Gold: What You Own When You Do Not Own Bars
…the bars, and randomly weigh a sample to ensure they match the list. The results of these audits are public documents, and a serious investor should read the 'Physical Inspection Report' with care. · The ultimate test of a bar list is its uniqueness. Because each bar has a serial…
Ingrid Sørensen · 23 min read
Markets · 6 August 2026
Why Central Banks Started Buying Gold Again
…istent bid rather than a visible rally. · Is repatriating gold the same as buying it? No. Repatriation moves existing holdings from a foreign vault to a domestic one and changes custody risk, not the quantity owned. The two trends are related — both express a preference for reser…
Ingrid Sørensen · 14 min read
Markets · 8 August 2026
Moving Bullion: The Logistics Nobody Prices
Between the vault and the buyer sits an industry of armoured vehicles, sealed cargo, bonded warehouses and insurance clauses. It rarely makes news, and it is the reason a spot price in London can dive…
Ingrid Sørensen · 15 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 · 2 August 2026
Who Actually Sets the Gold Price
There is no single gold price. There is a London settlement number, a New York futures curve, a Shanghai premium and a jeweller's counter in Dubai — and the distance between them is where the market l…
Ingrid Sørensen · 16 min read
