Eurozone central banks buying gold.

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#1 Wed, Jun 15, 2011 - 11:23am
Number 47
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Eurozone central banks buying gold.

Full article here in FT alphaville,

https://ftalphaville.ft.com/blog/2011/06/15/594986/the-eurozone-central-...

Bullionvault’s head of research Adrian Ash has spotted an interesting trend among Eurozone central banks this year.

Rather than selling gold, they’ve been buying it instead.

Not a lot.

But buying — mostly for gold coin trading purposes– nevertheless.

As Ash noted to FT Alphaville on Wednesday:

Contrary to apparent “rumor”, Eurozone central banks are buying gold, not selling it. Only by €6 million mind, and all of it in coin so far in 2011. But even excluding Estonia’s Euro-accession purchase, the net rise still stands in sharp contrast to the 1,937 tonnes sold by those same 17 central banks over the previous 12 years.

Edited by: Number 47 on Nov 8, 2014 - 5:31am
Thu, Jun 16, 2011 - 9:11am
BlackHawk
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Nice Grill Number 47

Got stopped out of my short AUXEUR trade at 1082 or so. Seems like the EuroZone is feeling a RISK-ON situation WRT buying gold with their depreciating Euros.