Mostly: Classical

[amarksp]

Hi Louis, any comments on this article...

"Central banks

Posted: Fri, 09 Dec 2005
[miningmx.com] -- CENTRAL bank interest in gold could be giving an additional lift to the gold price, according to a commodities analyst quoted by the Financial Times.


"There is concerted buying by a significant buyer, and it could be a central bank," said Paul Merrick, vice president commodities at RBC Capital Markets. The 10% rise in the gold price in the past three weeks has not been accompanied by a significant lift in buying of Comex gold futures in New York, Merrick told the Financial Times. "This suggests that there could be another large buyer out there, as there is a concerted effort to buy on any dips in the prices," Merrick said.

Central banks have been net sellers of gold for the last 40 years, although there have been occasional purchases, the Financial Times said.

However, recent positive comments on gold by officials from Argentinian, Russian and South African central banks have given bullion traders hope that some banks may start buying again, the paper said. "