Replies to post #15707 on Mostly: Classical

[roni]

There could have been some uptake by central banks as well - to the extent that there is diversification away from the USD, some small portion of that could be going into gold, do you think?

[amarksp]

thanks basserdan, much appreciated.

from LMC:
The weekly ECB statement of condition reported a gold sale of E916Mm last week, 59.05 tonnes at the current book value. Four banks were reportedly involved. Almost certainly, 57 tonnes of this was the sale announced by the ECB itself on March 31, which had not previously shown up in the accounts. Exactly the same thing happened last year. This leaves 2.05 tonnes to be split amongst 3 banks – so small as to suggest calls being exercised. At 25 year highs, the ECB group of Central Banks appear to have flinched from selling.