Penny Gold Miners

[NYBob]

Central Banks Add to Gold Holdings -
Sep 29th, 2011 08:23 by News
28-Sep (The Wall Street Journal) — Emerging-market countries
continued to top up their gold reserves in August, with Russia,
Thailand and Bolivia among those to add to their holdings.

Central banks have bought gold as some seek to diversify foreign-
exchange reserves that have grown along with emerging market export
industries. The purchases have helped drive the price of gold
higher, because they absorb supply and boost market sentiment.

This year, central-bank officials also began buying in earnest in
reaction to the government debt woes affecting the U.S. dollar
and the euro.

While central-bank officials are careful not to skew the market
with huge purchases or disposals, metals consultancy GFMS Ltd.
said “further large official-sector purchases should help
sustain prices.”


King Solomon on the face



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