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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum -- Ignore unavailable to you. Want to Upgrade?

To: carranza2 who wrote (67688)	11/1/2010 5:41:27 AM
From: TobagoJack	Read Replies (1) \| Respond to of 218083

there may soon be a strategic race for gold, and iran just cornered 300+ tons of the goodies per noir.bloomberg.com Iran Switched 15 Percent of Reserves Into Gold, Mehr Reports By Ladane Nasseri Oct. 31 (Bloomberg) -- Iran has changed some 15 percent of its foreign exchange reserves into gold and will not need to import the metal for the next ten years, Mehr reported, citing Central Bank Governor Mahmoud Bahmani. Iran’s gold reserves have “multiplied several times” in the past two years, Bahmani said in a report published late yesterday by the state-run news agency. Bahmani gave no specific figures, only saying the country consumes 30 tons of gold a year and that the central bank will have “ample supplies for the next 10 years” even if it doesn’t increase its gold holdings further. Iranian President Mahmoud Ahmadinejad said yesterday his country’s foreign exchange reserves exceed $100 billion. To contact the reporter on this story: Ladane Nasseri in Tehran at lnasseri@bloomberg.net. To contact the editor responsible for this story: Maher Chmaytelli at mchmaytelli@bloomberg.net Last Updated: October 31, 2010 02:45 EDT