Related provisions for BIPRU 7.5.19

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To access the FCA Handbook Archive choose a date between 1 January 2001 and 31 December 2004 (From field only).

A firm must calculate its net gold position by:(1) valuing all gold positions using the prevailing spot price for gold (regardless of the maturity of the positions);(2) offsetting long and short positions; and(3) converting the resulting net position into the base currency equivalent using the current spot foreign currency rate.