Hugh: I don't have any special knowledge of who is buying and accumulating gold. (Wish I did) These deals are secretive, that is the problem. As far as the Saudis are concerned, the information is based on a thin thread, the assertions of "Another". But I do not doubt for one second that the Oil States have accumulated gold for some years, as perhaps others have too. I posted a figure previously, but it is pure conjecture so not worth repeating.
I have also read that Japan and China have been buying lately, supporting O/49r's statement regarding the probable near future formation of an Asian Monetary Union.
There may be other big players buying as well, but no one is showing their hand. As we don't know the players, or their motives, one can only speculate regarding "selling into strength". Small players will be buying and selling at all levels of course.
We are all trying to read the tea leaves, but so far all we see are more leaves. Lots of speculation, little evidence.
Phil |
