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Gold/Mining/Energy : Barrick Gold (ABX) -- Ignore unavailable to you. Want to Upgrade?

To: russet who wrote (2651)5/13/2002 4:58:53 AM
From: nickel61  Read Replies (1) | Respond to of 3558
 
And would you be knowing all powerful one when the Central Banks would have been accumulating that gold? The vast majority of it over sixty years ago.

And if gold in the reserves serve no function why do they still have roughly the same amount they did fifty years ago? It has never really been sold out of the central banks,just shifted from one Central Bank to another. Check the numbers, you will see that the European banks have decreased their holdings while the Chinese, Asian and now Russian Central Banks have been increasing there gold reserves.



To: russet who wrote (2651)5/13/2002 2:24:28 PM
From: goldsheet  Read Replies (2) | Respond to of 3558
 
> say that while the central banks were accumulating gold, they supported the price of gold

I have always been a strong advocate of all central banks selling all of their gold, which would eliminate their affect on the gold market in any direction. If all gold was available in the marketplace, then the "free market" could probably do the best job of setting the "correct" price.


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