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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  • SwingingTheLamp@piefed.zipEnglish
    19·
    1 month ago

    The article offers some insight. This was a series of 26 transactions over the course of a year. If the bank bought European gold for its holdings, then later sold the U.S. gold, a rising price over time would mean a net profit.

    • prettybunnys@piefed.socialEnglish
      41·
      1 month ago

      The article gave me the impression they sold the gold then used the proceeds to purchase.

      But if they purchased up front then sold later then that makes sense.

      If anything that seems as if it would be scenario to lose money.

      Maybe if they used the gold they already had as collateral.

      I just assume this is the kind of financial fuckery that you and I are too poor to take part in.