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amarksp

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amarksp

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Friday, 12/28/2007 2:46:29 PM

Friday, December 28, 2007 2:46:29 PM

Post# of 19037
CB Gold Sales - Updated for Swiss Sales

http://www.drivehq.com/file/df.aspx/shareID573529/fileID118398545/cbgoldsales.jpg

Switzerland sold 11.3 tonnes (364,000 ounces) of gold in November. Gold reserves last month fell to 37.1 million ounces from 37.5 million in October, the Swiss National Bank said on its website today. Sales were about 10.9 tonnes (349,260) ounces in October.

Switzerland has sold 3.9 million ounces, worth $3.13 billion, since the Swiss National Bank announced plans in June (see RI’s coverage) to dispose of 250 tonnes of gold before the end of September 2009 and use the proceeds to buy currencies.

Wonder which currencies? The euro has gained 9% against the dollar this year.

Also see RI’s latest update on Eurosystem central bank sales.


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