Monday, August 24, 2009

Central Banks Net Buyers Of Gold.......

Looks like my critisism ( see Gold & The Wisdom Of Central Bankers ) was too widespread.... A better title would have been "Gold & The Wisdom Of Western Central Bankers"..... ;-)

Sieht so aus als meine Kritik ( siehe Gold & The Wisdom Of Central Bankers ) etwas zu breitgefächert war. Hätte wohl richtiger "Gold & The Wisdom Of Western Central Bankers" heißen müssen..... ;-)


Gold demand declines in Q2, still high Rolfe Winkler
The central bank sector had a dampening impact on supply - net purchases of 14 tonnes were recorded in Q2’09 compared to net sales of 69 tonnes in Q2’08, the figures indicating the first net purchase by central banks for a considerable length of time.
> Check out the rest of the link . As usual great stuff from Winkler

> Empfehle den kompletten Link von Winkler zu lesen. Wie immer großartig......


China's gold buy raises eyebrows for all the right reasons MW May 1, 2009

The precious-metals market took notice for all the right -- but not-so-obvious -- reasons when China announced last week that it ramped up its gold reserves by 76% in the last six years.

Last week, China announced that the amount of gold in its reserves has climbed to 1,054 tons from 600 tons in 2003

It also asked the International Monetary Fund to sell its entire 3,217 tons reserve

China's gold reserves are worth almost $31 billion -- about 1.6% of its total foreign- exchange reserve holdings, and gold as a percent of the country's total reserves has actually declined since 2003, according to Sam Subramanian, editor of AlphaProfit Sector Investors' Newsletter.

To put that into better perspective, if China was to purchase the IMF's reserves of 3,217 tons at a price of $1,000 per ounce, the price would be $103 billion, according to Kosares.

Disclosure: "Goldbug" ;-)

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5 Comments:

Anonymous traderboy said...

puts it into perspective when you consider the US could have bought all the IMF's gold for half the cost of the AIG bailout...

1:15 PM  
Blogger jmf said...

On top of Bernanke we have a new King in printing.....


When Monetizing 12% Percent Of GDP Isn´t Enough.......

11:14 PM  
Blogger jmf said...

Moin Traderboy,

yup.....

But we all know the US would rather invade Canada than do anything positiv for the price of Gold..... :-)


Fed Chairman Bernanke tapped for second term


Good news for Goldbugs.... 4 more years of printing ahead.....

For more fun on Bernanke i suggest te following link.....


Did Bernanke Really Said This ?......

11:17 PM  
Blogger jmf said...

Nice chart via Tim


Gold Since Bernanke Was Nominated In 2005

1:12 PM  
Blogger jmf said...

Must see chart....

The Rise And Fall Of The US Dollar

5:06 AM  

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