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Live Gold Price Au Current Price £1,853.08 Live Change 0.03% £+0.41 Live high £1,853.08 Live low £1,852.68 Create Price Alerts Sign In or Register Now Period

It's not their money, they don't give a terrible. They are nowhere to be seen when the SHTF.

£1852📈👀

All to help the newly (then) started Euro - that we got no thanks for. And the sale auctions totally incompetently managed, pre-informing the markets of the amounts/times. Perhaps that's Scots/Labour for you, alongside other greats such as Sturgeon (do more harm than good). Oh look, they've just reappointed yet another failure (Sweeney).

The Fed are only lent the gold, from the Treasury who own it. Non redeemable gold notes at $42.222/ounce for economic management purposes. The Fed are also the custodians, and I'd expect that the Treasury would have practices in place to reassure any of its concerns in that respect.

I know I know but looks matter mate 😁

Each bar was assayed and sealed, the seals are periodically checked. Replacing those bars with gold plated tungsten/whatever bars would entirely undermine the entire US and global financial system, and would require the seals to be broken and the bars physically exported. Each head of treasury would be inclined to at least independently check random samples or otherwise be at risk of being the one left holding the bomb as it exploded. I most certainly would, not that I'd ever be in such a position. As such I opine that the gold is there, but accept others may disagree and if so, the next Treasury head might blow the whistle that end the world as we know it. What about the UK, the second largest holder in the world (5000 tonnes). Much of which it doesn't own, is the safe keeping custodian, do you believe those bars are fake/non-existent? Another factor is that even at the recent high gold price levels that still 'only' amounts to half a trillion dollar value which in the scale of 35 trillion debt is relatively trivial/insignificant. Yes a lot, but in the scale of things not worth the 'fraud'.

Whether they hold or own 8000 tonnes, I will still wager they dont... theres been no physical proof of this since the gold standard was erased. It's like the fed hasn't been audited for years.... You know the saying if you believe your government then your an idiot...

Just these CGT free tudor beasts I'm afraid.

I did say "hold" not "own". If there's 123 claims to each single ounce of gold, who does own it! The one who has it in their hand has a big say.

Any 1/4 Eagles?

The BRICS issue with the US is primarily how its weaponised the dollar. All (dollar based international) transactions clearance passing across, up, back down and out of the US financial system - and where it opted to block (sanction) some. The likely resolution will be for a alternative clearing 'house' that isn't politically influenced - that's also linked into the US system, so even if the US block one directly they'll still be able to transact through the other. The US of course will try and put up barriers to that however, will prefer to retain is 'weapon'. The UK could have been presented as a great such alternative, but our PM (BJ) opted to instead insult Russia and jump into the Ukraine war with little thought other than how he might act like a second Churchill. Outside of the EU, and had we opted to follow more former Swiss style neutrality and central safe-haven could have had the UK in a very good position.

Do I have fake silver in my stack?? Now I’m finally able to find out!

I bet you they dont. 1oz of silver on it? if you can show me the physical proof. I will gladly pay you it...!

Countries used to use gold for international trade settlements, British empire Pounds (Sovereign gold coins) and 400 oz average bars. London was the hub and physically moved bars between different country cages in reflection of that. Since the US dollar was transitioned to paper dollars were instead moved, electronically. The US strives to keep the dollar aligned to gold as that better stabalises international trade. It's not good if one day something earns/costs $10, and the next it earns/cost $5, or $15. But that's not a direct peg, rather a channel range, that the US manages by buying or selling gold to realign it to the dollar. The US treasury hold 8000 tonnes of gold, and lends that to the Fed at a $42.222/oz rate, so at $2111 market price of gold the Fed has a 50x leverage factor, which in turn it might use to buy or sell leveraged gold such as Options/Futures (there's 123 times more paper gold than physical gold). So the Fed in effect at a $2111/oz price have over a 6000x leverage rate on each ounce of gold and have access to up to 8000 tonnes of gold for that. And if the dollar weakens/price of gold increases, so does that leverage factor (fail safe).

Dip has past, buy buy buy📈📈📈😂

Live Silver Price UK in GBP per Ounce Ag Current Price £21.79 Live Change 0.05% £+0.01 Live high £21.80 Live low £21.78

Live Gold Price Au Current Price £1,852.86 Live Change 0.04% £+0.67 Live high £1,853.22 Live low £1,851.76