by Robert Lambourne
Gold Seek
According to its recently published February statement of account, the Bank for International Settlements, which represents most central banks, appears to have increased its position in gold swaps and gold-related derivatives by 6 tonnes over its position at the end of January, bringing it to an estimated 326 tonnes.
The bank’s use of gold swaps and derivatives has risen by more than 300 percent since May 2019, when it stood at 78 tonnes.
The BIS uses gold swaps and other gold derivatives to gain access to gold held by commercial banks.