And gold? Well you know all about that. Yesterday’s Financial Times had three stories in a row on gold. The first was, “Beijing Bets on Bullion” and showed that even though China’s gold reserves have doubled since 2003, the country still only has 1.6% of its total foreign reserves in gold. The world average is 10.5%.
May 8th, 2009 | Dan Denning | 4 comments | ContinuedAll Posts Tagged With: "ECB"
Investors in COMEX Futures Don’t Necessarily Want Physical Gold
The big problem belongs to the short-sellers of gold, who are finding, suddenly, that “long buyers were demanding in droves” – demanding physical gold bars, when, apparently, there were not enough.
April 14th, 2009 | Mogambo Guru | 4 comments | Continued
Circle September 26th on Your Monetary Calendar
Bankers are bankers, after all. Their product is money. But they have gold in their vaults for a reason. It was money before paper was money. So September 26th may mark the end of the orderly and coordinated management of gold sales by European Central Banks. And it may mark the beginning of a new monetary era where gold reasserts its importance as money…
January 28th, 2009 | Dan Denning | 2 comments | Continued