Friday, October 1, 2010

FORMER MAJOR GOLD SELLERS ARE ABSENT FROM THE MARKET

Gold sales by central banks in Europe fell to a very low level in the twelve month period ending 9/30/2010. The rate of sales was about 95% below the average of the last decade.

Interestingly, over the last 12 months several governments announced that they were open market buyers of gold. These include Russia, China, Thailand, and India.

- Monty Guild

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