London Gold Pool

The deposit of gold reserves made by eight central banks in 1961 in order to preserve the price of $35 per ounce of gold. The London Gold Pool sold gold on the London bullion market periodically whenever the market price of gold began to rise above $35. The sales were intended to help preserve the Bretton Woods System, whereby most currencies were pegged to gold. The London Gold Pool gradually dissolved with the failure of the Bretton Woods System in the late 1960s and early 1970s.

单词	london gold pool
释义	London Gold Pool London Gold Pool The deposit of gold reserves made by eight central banks in 1961 in order to preserve the price of $35 per ounce of gold. The London Gold Pool sold gold on the London bullion market periodically whenever the market price of gold began to rise above $35. The sales were intended to help preserve the Bretton Woods System, whereby most currencies were pegged to gold. The London Gold Pool gradually dissolved with the failure of the Bretton Woods System in the late 1960s and early 1970s.
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