Gold cash delivery point - Kingensouten

Japanese: 金現送点 - きんげんそうてん

The exchange rate between gold standard countries is set within a range centered on the legal parity, plus or minus the costs of the actual transport of gold bullion. If the exchange rate rises above this cost of actual transport, it becomes more profitable to physically transport gold than to buy foreign exchange, so the exchange rate cannot rise above the level of the legal parity plus the cost of actual transport, and for the same reason, it cannot fall below the level of the legal parity minus the cost of actual transport. The former is called the gold export point, the latter the gold import point, and the two are collectively called the gold physical transport point.

Source : Heibonsha Encyclopedia About MyPedia Information

Japanese:

金本位国間の為替相場は法定平価を中心として，これに金塊の現送諸費用を加減した範囲内に定まる。為替相場がこの現送費用を越えて騰貴すると為替を買うよりも金を現送するほうが有利になるから，為替相場は法定平価に現送費を加えた水準以上には騰貴し得ないし，また同様の理由によって，それは法定平価から現送費を差し引いた水準以下には下落しない。前者を金輸出点，後者を金輸入点，両者を総称して金現送点と呼ぶ。

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