Dutch Central Bank Sale Announcement Imminent? Message Board

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Politics : Dutch Central Bank Sale Announcement Imminent?

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To: GUSTAVE JAEGER who wrote (21160)	6/12/2004 8:06:40 AM
From: sea_urchin	Read Replies (2) of 81678

Gustave > This is because if the PBC [People's Bank of China] is to retain its proportion of gold holdings at the current 2.4% of total reserves (European Central Bank standard: 15%), it would need to increase its gold holdings by an estimated 120 tons or 60% of gold consumption in China in 2002. Compared to present world gold demand (2593 tonnes in 2003), 120 tonnes is peanuts: 4.6% to be exact. That can't have much of an effect on the world price. Even total Chinese consumption of 200 tonnes isn't much to talk about. gold.org Sure, it's something, I accept that, but it will take a while before China is a gold consumer in the league of India or the Mid East countries. gold.org Download the .pdf file and then you have to look sideways to see anything. They certainly don't make it easy for people to find out what the actual demand is. I presume that's for the simple reason that it has been falling year by year.

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