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Gold/Mining/Energy : Gold and Silver Juniors, Mid-tiers and Producers -- Ignore unavailable to you. Want to Upgrade?

To: John McCarthy who wrote (56217)1/30/2008 11:18:01 PM
From: McDavid  Read Replies (1) | Respond to of 78419
 
Banks buying Gold - I don't recall ever reading a report about banks buying Gold. Can it be true that European banks have only sold gold for the last 10 years or so and made zero purchases ?



To: John McCarthy who wrote (56217)1/31/2008 6:15:08 AM
From: jpthoma1  Read Replies (1) | Respond to of 78419
 
I do not agree with Mr. Nones.

There is a strong correlation between POG and net CB selling.

As you (I hope) and me (be sure), they buy low and sell high.

And, for the last four quarters, they have triple their sales (from 56 tonnes in Q4-2006 to 164 tonnes in Q3-2007.

I predict 200 tonnes in Q4-2007.


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