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Monetary institutions then swapped their bullion for yielding sovereign debt .

因此货币当局以黄金交换“能产生收益”的主权债务。

Markups on bullion are around 5 % .

出售金条的利润在5%左右。

The value of the bullion coin is based on the commodity it contains .

其价格由所含银的价值而定。

Afterfrancisco pizarro executed the inca king atahualpa in 1533 , the spanish shippedhome tons of bullion in a 300-year stream of galleons laden with silver andgold .

自从弗朗西斯科皮萨罗在1533年处决了印加帝国国王阿塔瓦尔帕，西班牙人在之后的三百年间用大帆船满载着金块银块，运回家无数吨金银。

Either the bullion market or the treasury bond market is mistaken about the long-term inflationary outlook .

无论是黄金市场还是国债市场，对长期通胀前景的预期都是错误的。