Sentences with phrase «hold some gold custody»

Nevertheless, the BoE does hold some gold custody accounts for certain commercial banks.

The BoE provides gold custody services primarily to central bank customers to help them get access to London gold market liquidity, although it also holds some gold custody accounts on behalf of certain commercial banks that support central bank access to the liquidity of the London gold market.

Not exact matches

To be sure, this is somewhat simplistic in that, as mentioned earlier, the BoE also offers custody accounts to certain commercial banks, while at the same time it is also possible for central banks to hold their gold in non-BoE vaults.

On the assumption that the BoE custody service primarily caters to central bank customers, it's probably fair to say that 1) the bulk of BoE gold represents official sector holdings and 2) gold held in other vaults is likely to be more investment - related.

While this entails considerable cost, hassle and security considerations, the mere notion that you can take custody of the gold that you believe you hold in shares of the trust provides a comfort to investors that the other ETFs and ETNs can't.