Eurozone central banks buying gold.

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#1 Wed, Jun 15, 2011 - 11:23am
Number 47
Joined: Jun 14, 2011

Eurozone central banks buying gold.

Full article here in FT alphaville,

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.

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Edited by: Number 47 on Nov 8, 2014 - 5:31am