France’s central bank has sold off the last of the gold it held in the United States Federal Reserve and replaced it with higher quality bars in Paris, taking advantage of rising prices to make nearly…

France’s central bank has sold off the last of the gold it held in the United States Federal Reserve and replaced it with higher quality bars in Paris, taking advantage of rising prices to make nearly €13 billion as it upgrades its holdings.

Archived version: https://archive.is/20260406065208/https://www.rfi.fr/en/france/20260404-french-central-bank-nets-€13bn-from-us-gold-sale-consolidates-reserves-in-paris

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  • CombatWombat@feddit.onlineEnglish
    4·
    2 months ago

    The only thing I can figure is they bought the new, higher quality bars in Europe first, and sold the older bars at the Fed second, and the price of gold went up in the interim.