Tuesday, September 12, 2006 10:45:10 AM
central bank gold sales
135 tonnes short of target thus far YTD
345 tonnes YTD actual
Am expecting central banks to reach 380 tonnes (absolute minimum) to 400 tonnes instead of 500 tonnes this fiscal year, thus we should have 35-55 tonnes to be sold in next 2.5 weeks, well above recent sales. (380 tonne absolute minimum = 500 tonnes less 120 Germany). This past week 7.5 tonnes were sold. Thus expect minimum of 15 tonnes to be sold for each of the next 2 weeks plus 5 tonnes in the half week stub period.
From yesterday news:
"The Bank of Portugal announced today that it sold 20 tonnes of gold since it announced a 15 tonne sale in July. It claims the selling program is now complete."
With only 7.5 tonnes reported this week, it is obvious little if any of Portugal's 20 tonnes was sold last week, so must be this week.
135 tonnes short of target thus far YTD
345 tonnes YTD actual
Am expecting central banks to reach 380 tonnes (absolute minimum) to 400 tonnes instead of 500 tonnes this fiscal year, thus we should have 35-55 tonnes to be sold in next 2.5 weeks, well above recent sales. (380 tonne absolute minimum = 500 tonnes less 120 Germany). This past week 7.5 tonnes were sold. Thus expect minimum of 15 tonnes to be sold for each of the next 2 weeks plus 5 tonnes in the half week stub period.
From yesterday news:
"The Bank of Portugal announced today that it sold 20 tonnes of gold since it announced a 15 tonne sale in July. It claims the selling program is now complete."
With only 7.5 tonnes reported this week, it is obvious little if any of Portugal's 20 tonnes was sold last week, so must be this week.
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