Central Bank Gold Holdings Expand at Fastest Pace Since 1964
http://www.bloomberg.com/apps/news?pid=20601087&sid=amBRPzwy...
March 18 (Bloomberg) -- Central banks added the most gold to their reserves since 1964 last year amid the longest rally in bullion prices in at least nine decades, data compiled by the World Gold Council show.
Combined holdings rose 425.4 metric tons to 30,116.9 tons, an increase worth $13.3 billion at last year’s average price, according to the data. India, Russia and China said last year they added to reserves. The expansion was the first since 1988, the data from the London-based council show.
... “It’s not just been central banks taking on gold, but a general shift for physical gold in the investment sector.”
Read the rest at http://www.bloomberg.com/apps/news?pid=20601087&sid=amBRPzwy...
Nothing to see here
Gold is a bubble...
Lol now don´t take me seriously in any direction.
Personally, I might buy more...Just don´t know if I have any room left..
/Mike
Front Fell Off
http://www.youtube.com/watch?v=WcU4t6zRAKg
Wow, they bought
gold when it was high. Banks stocking up on gold I guess they don't like paper money.
Prepare & Share the Message of Freedom through Positive-Peaceful-Activism.
Russia, India, China and Brazil are buying.
While the US, UK and Eurozone are selling. So it seems anyway.
Despite the Kitco spot price falling right now...
...at ground level the cash-4-gold companies are still out in force.
I stopped by one of their booths and asked the girl if she
could give me the current spot price. She didn't know what that meant.
: \
Ron Paul "Sign Wave Across the USA" -- November 5th!
Or rather, she knew that they pay quite a bit less.
In Britain, the best deal for 9ct scrap gold from these companies is around £5 per gram.
The 24ct bullion price on Kitco today is £23,708.54 per kilo.
Expect to pay huge premiums over that price. The smaller the unit, the bigger the premium.
I know what you're saying but, no,
this girl really didn't know what it was. I had to tell her. I guess they don't really need to know since it's all in the computer and they just plug in the details. Still, I found it odd that they weren't a little better educated.
Ron Paul "Sign Wave Across the USA" -- November 5th!
If she's not a pawnbroker, then you're right, she's clueless.
I feel sorry for the folks at those booths. They never seem to have any customers. They always look bored senseless. I wonder how much they make an hour?