Does the Fed trade gold in “open market operations”?
Quick question, is there any record of the Federal Reserve’s buying and selling of gold in their open market operations? It is taught that they “can” facilitate gold, but i was wondering if there were some data sets that would confirm. The reason i ask is because if they were to do such things, selling gold (the Fed) during times of inflation could potentially create a terrifying imbalance… Any insight? Be mindful of the future, but not at the expense of the present. For in the present is where we shape our future. –> Reply With Quote –> 01-21-09 02:31 PM #2 oldreliable67 Guru Join Date Oct 2005 Last Seen05-26-10 @ 11:44 AM Gender Lean Undisclosed Posts 3,167 Thanks 219 Thanked 345 in 241 Posts Re: Does the Fed trade gold in “open market operations”? “open market operations” are covered by a specific directive from the Board to the account manager at the NY Fed. Here is a typical directive (they are pretty much unchanged from year-to-year;this one happens to be from 2006): Authoriz