Wednesday, July 04, 2007 7:43:37 PM
Central Bank Gold Sales...
This is quarterly readjustment week, which I account for correctly, I believe. Even allowing for 3.61% decline in Euro Gold price (Euro 498 to Euro 480), there were substantial gold sales this past week, to the tune of 610 Million Euros, by far the largest sale to date. Total decline was Euro 7.1 Billion, but 6.5 Billion was from readjustment, so 610 Million Euro was the implied sales for last week.
see chart below and chart with comments via link...
http://amarks.homestead.com/CBGold.html
This is quarterly readjustment week, which I account for correctly, I believe. Even allowing for 3.61% decline in Euro Gold price (Euro 498 to Euro 480), there were substantial gold sales this past week, to the tune of 610 Million Euros, by far the largest sale to date. Total decline was Euro 7.1 Billion, but 6.5 Billion was from readjustment, so 610 Million Euro was the implied sales for last week.
see chart below and chart with comments via link...
http://amarks.homestead.com/CBGold.html
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