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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  • hitmyspot@aussie.zoneEnglish
    11·
    1 month ago

    The way it is phrased, I think they made a gain of that amount when they sold it. So the value had increased significantly since they purchased it. However, if they bought the equivalent amount again, it would cost the same. If they bought higher quality gold, possibly it would cost more.

    • prettybunnys@piefed.socialEnglish
      3·
      1 month ago

      I think the “higher quality” here meant conformant to standards of size vs “purity”

      Though the standards may also include purity

      • hitmyspot@aussie.zoneEnglish
        11·
        1 month ago

        Yes, it likely that makes it at least as valuable, but probably more so, given it mattered enough to sell.