Analysis of Ecuador, Goldman Sachs Gold Deal

Posted on June 5, 2014 • Filed under: Business, Ecuador

Fortune.com reported…For the second time in just a few years, the small South American country has outwitted Wall Street at it its own game, at least according to Ecuador. Goldman Sachs should have been wary of Ecuadorians bearing gold. On Tuesday, Ecuador announced that it had swapped 466,000 bars of gold with Goldman. The gold is worth nearly $600 million, based on current prices. Goldman GS 0.47% , in return, is giving the Ecuadorians “instruments of high security and liquidity,” which is likely cash or something close to it. Read Article

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