Mostly: Classical

[amarksp]

more Central Bank Gold Sales
http://www.miningmx.com/gold_silver/345807.htm

Virtual Metals lending credibility to Barclays report of Central Banks reaching full 500 tonnes in 2nd Year. If true, we should see 90+ tonnes in near future on ECB reports showing this forward sale... Forward sale for 2006 fiscal year (likely in Sept 06), but will be reported in current 2007 fiscal year (likely within next few weeks, before year end).
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Sales under the second year of the Central Bank Gold Agreement are believed by Virtual Metals to have hit the 500 tonne limit in the year to 26 September, but sales will fall short of that level in 2007, Cross said.

The reason for that is based on Germany stating that it might not come to the market to unload its full quota of gold under the five-year agreement.

On the demand side, jewellery consumption is seen rising on the back of a recovery in Middle Eastern buying of investment jewellery with money generated from high oil prices.

Central bank purchases are expected to fall to zero from 100 tonnes in 2006.
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This last comment of zero tonnes of central bank purchases will be proven wrong if UAE purchases 13 tonnes (=1% of reserves) per UAE comments on prior post...