
Multiple markets suggesting US and China began settling some trade deficits in gold (FFTT, 1/20/26)
There is a belief among certain Europeans that a higher price of gold for settlement purposes would facilitate financing of oil imports…For this purpose, it would be useful if the oil producers would invest some of their excess revenues in gold purchases from deficit EC [European Community] countries at close to a market price. This would be an attractive proposal for European countries, and for the U.S., in that it would not involve future interest