Amid Gold Market Turmoil, HSBC Taps Bank Of England For GLD Bars
Amid Gold Market Turmoil, HSBC Taps Bank Of England For GLD Bars Tyler Durden Thu, 05/14/2020 – 12:10 Submitted by Ronan Manly, BullionStar.com During March and April, amid global financial turmoil, unprecedented demand for physical gold, refinery closures and a London lockdown, one question on the minds of many in the gold market was how HSBC London, the vault custodian of the SPDR Gold Trust (GLD), was consistently able to source huge amounts of gold bars to back the enormous inflows into the world’s largest gold-backed Exchange Traded Fund (ETF). 173 tonnes during London Lockdown From Monday 23 March (the[…]
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