Wednesday, July 26, 2006 1:21:59 PM
Central Bank Gold Sales
"The ECB’s weekly balance sheet revealed that two subordinate banks sold E25Mm of gold last week, a mere 1.65 tonnes (compared with 5.04 tonnes last week). On the face of it, this suggests the ECB group was not the seller clearly active on the fixes last week, and strongly implies that there is not an intention to meet the WAG2 quota – the year end of which is 10 weeks and some 150 tonnes away."
FWIW, my calcs show it is 160+ tonnes away (i.e. 160 tonnes must be sold by 9/30 to meet quota).
http://www.investorshub.com/boards/read_msg.asp?message_id=8327291
"The ECB’s weekly balance sheet revealed that two subordinate banks sold E25Mm of gold last week, a mere 1.65 tonnes (compared with 5.04 tonnes last week). On the face of it, this suggests the ECB group was not the seller clearly active on the fixes last week, and strongly implies that there is not an intention to meet the WAG2 quota – the year end of which is 10 weeks and some 150 tonnes away."
FWIW, my calcs show it is 160+ tonnes away (i.e. 160 tonnes must be sold by 9/30 to meet quota).
http://www.investorshub.com/boards/read_msg.asp?message_id=8327291
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