Search
Search the whole magazine.
Full-text search across every article — headlines, decks, body copy, pull quotes, captions and FAQs — plus our editorial and legal policies.
8 results for “treasure act” in Markets
Markets · 18 August 2026
The Vault Beneath the City
…ndful of porters who never touch the metal with bare hands. This is how sovereign gold is actually stored, audited and, occasionally, brought home. · The Bank of England holds roughly 400,000 bars for around 100 account holders, most of them foreign central banks, in vaults benea…
Ingrid Sørensen · 22 min read
Markets · 11 September 2026
The Last Audit: What We Actually Know About the World's Official Gold
…e unbroken. · Foreign custody at the Bank of England and the New York Fed is normal and practical, but it 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 retur…
Ingrid Sørensen · 22 min read
Markets · 2 August 2026
Who Actually Sets the Gold Price
…the EFP spread. · The twice-daily LBMA auction is a benchmark-setting mechanism for contract settlement, not the market itself. · Regional premiums in Shanghai, Mumbai and Istanbul are logistics and policy signals, not arbitrage failures. · Central banks and ETF flows move the p…
Ingrid Sørensen · 16 min read
Markets · 17 August 2026
Paper Gold: What You Own When You Do Not Own Bars
Most of the world's gold exposure is a contract, not a metal. Futures, unallocated accounts and exchange-traded funds each promise gold in a different way — and the differences only become visible when the market stops working. · Pape…
Ingrid Sørensen · 23 min read
Markets · 20 June 2026
Bring It Home: Central Banks and the Great Gold Repatriation
…ses real costs: vault construction, insurance, audit and lost liquidity. · The trend interacts with sustained official-sector buying, tightening the free float of deliverable metal. · Reserve managers accept gold's zero yield as the price of an asset that cannot be frozen, sancti…
Ingrid Sørensen · 14 min read
Markets · 8 August 2026
Moving Bullion: The Logistics Nobody Prices
…onfiscation, and whether the policy names the client or only the custodian. · How is gold actually moved across international borders? Under specie-insurance protocols that specify approved carriers, sealed and manifested consignments, and pre-cleared customs declarations, usuall…
Ingrid Sørensen · 15 min read
Markets · 8 September 2026
The Real-Rate Trade: Why Gold Moves When Bond Yields Do
…gative, the cost of holding gold is negative too, and the metal becomes comparatively attractive. When real yields are high and positive, the opposite applies. · Did the relationship actually break, or is it just noisy? Rolling correlations between the gold price and ten-year rea…
Ingrid Sørensen · 25 min read
Markets · 6 August 2026
Why Central Banks Started Buying Gold Again
…enominated or defaulted on. Gold pays nothing and cannot be created by anyone, which is exactly the property a reserve manager wants in the tail scenario the rest of the portfolio cannot survive. · Which central banks have been buying? The buying since 2010 is concentrated in eme…
Ingrid Sørensen · 14 min read
