more clarification please:
"official gold sales 500-700 tons = balance or surplus"
how can "offical gold sales" be more than 500 tonnes?, what non-signatories to the gold agreement can/will be selling up to 200 tonnes? provide possible central bank names...
yes noted the Sep 30 revaluation, this goes back to what you were saying that ECB reserves valued higher so thus ECB can now sell more gold to retain mandated 15%...?!!
believe most of "scrap" is recycled Indian jewelry and not dental/coins as you suggest. this Indian jewelry is very high carat gold with little "craftsmanship" worn around the fingers and arms, this is what is primarily being recycled (gold melted down and recast to another cheap jewelry design, tola bars, coins, or something else). this is my understanding, believe your statement not accurate in regard to dental/coin. this scrap per my definition is also very key!! the last thing we need is for Indians selling their jewelry to melt the gold down and it turn up as gold bars! Indian jewelry gold holdings makes central bank gold holdings look small...!!@!
