What is best link to get current (i.e. Sept 28 to now) Central Bank sales?, or is there such a link?, have not been able to find one other than to read Julian Phillips each week. I sure desire to know whether Central Bank sales are once again being front loaded in first half of EGA fiscal year.
Yes, I like Virtual Metals for "another perspective".
Thought Virtual Metals had nice write up on potential worldwide ETF in July issue:
"If we take the figure of 0.030% of stock market capitalization as a benchmark, we can make an estimate for the potential global gold ETF offtake. Global stock market capitalisation is around $22 trillion, thus 0.030% of this would be $6.6bn, or 466 tonnes of gold, about 200 tonnes higher than at present. This is obviously only an estimate. Countries differ in their propensity to invest in gold, and using stock market capitalisation as a proxy for investment market size could mean underestimating potential demand in countries with small stock markets relative to their economic size, such as China and India. It also does not take into account any marketing efforts to increase gold offtake in each region. On the other hand, not every country will get an ETF. Some demand from people in countries without an ETF will have already been met by the existing ETFs."
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We had Thailand recently add a gold ETF so I was wondering how new ETF countries would impact demand, and Virtual Metals made a reasoned estimate.
Also, Virtual Metals appears to be the first analyst to mention Mid-East Petro buying of physical gold in this July issue (published June 30th), do not recall anyone else mentioning this before then:
"The only deduction we are left with is that there is very strong and persistent physical buying in certain key markets, especially the Middle East. Anecdotally, we have heard that considerable purchases of gold have been transacted recently in the Middle East, with significant profits from the recent high oil prices being diverted into physical gold."
