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Peter Spina, CEO at GoldSeek.com, points out that nearly 200 tonnes of gold remain vaulted with the Bank of England and the Bank for International Settlements (BIS).
The comment emphasizes the significant gold holdings currently stored by these major financial institutions.
Spina previously reported that mining ETFs doubled to $87.4 billion in the first quarter as gold funds faced investor outflows and large funds pivoted to industrial metals, according to recent data. He also noted that Venezuela's central bank and the U.S. engaged auditors, including Deloitte, to review Venezuela's foreign-held assets and gold operations. The latest comments follow these earlier developments.