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Europe's central banks halt gold sales - Financial Times

 
Philippines
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09/27/2010 01:37 AM
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Europe's central banks halt gold sales - Financial Times
Europe’s central banks have all but halted sales of their gold reserves, ending a run of large disposals each year for more than a decade. The central banks of the eurozone plus Sweden and Switzerland are bound by the Central Bank Gold Agreement, which caps their collective sales.

[link to www.ft.com]

5a
Separate science and government.
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09/27/2010 01:48 AM
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Re: Europe's central banks halt gold sales - Financial Times
5a 5a
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09/27/2010 02:58 AM
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Re: Europe's central banks halt gold sales - Financial Times
Europe’s central banks have all but halted sales of their gold reserves, ending a run of large disposals each year for more than a decade. The central banks of the eurozone plus Sweden and Switzerland are bound by the Central Bank Gold Agreement, which caps their collective sales.

[link to www.ft.com]

5a
 Quoting: Philippines

Perhaps they are no win the process of melting down all their gold/tungesten bullion to recover the pure gold and the pure tungesten. Given the price of 'gold/tungesten' lately on the open market perhaps we will find now that gold is selling for $650 per ounce and tungesten selling for $650 per ounce. This should make the anti-tank and anti-armor weapons manufacturers rather happy and those weapons much more expensive to 'buy'...
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09/27/2010 03:00 AM
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Re: Europe's central banks halt gold sales - Financial Times
[link to www.kitco.com]
susano

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09/27/2010 03:44 AM
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Re: Europe's central banks halt gold sales - Financial Times
So, I wonder what this will do to gold prices. Is the gold market very dependent on central banks selling or do dealers own enough? Maybe just the psychological impact will send prices soaring.
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09/27/2010 03:46 AM
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Re: Europe's central banks halt gold sales - Financial Times
Europe’s central banks have all but halted sales of their gold reserves, ending a run of large disposals each year for more than a decade. The central banks of the eurozone plus Sweden and Switzerland are bound by the Central Bank Gold Agreement, which caps their collective sales.

[link to www.ft.com]

5a
 Quoting: Philippines


And if I was registered I could read that article :-)
Philippines  (OP)

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09/27/2010 04:29 AM
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Re: Europe's central banks halt gold sales - Financial Times
So, I wonder what this will do to gold prices. Is the gold market very dependent on central banks selling or do dealers own enough? Maybe just the psychological impact will send prices soaring.
 Quoting: susano


My thoughts are the same. There is definitely a psychological impact in my opinion by saying "halts gold sales". That alone should make demand increase.
Separate science and government.
Philippines  (OP)

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09/27/2010 05:24 AM
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Re: Europe's central banks halt gold sales - Financial Times
New link:

[link to www.cnbc.com]
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Philippines  (OP)

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09/27/2010 12:07 PM
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Re: Europe's central banks halt gold sales - Financial Times
bump
Separate science and government.
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09/27/2010 12:14 PM
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Re: Europe's central banks halt gold sales - Financial Times
So, I wonder what this will do to gold prices. Is the gold market very dependent on central banks selling or do dealers own enough? Maybe just the psychological impact will send prices soaring.


My thoughts are the same. There is definitely a psychological impact in my opinion by saying "halts gold sales". That alone should make demand increase.
 Quoting: Philippines

they are keeping whats left after the big boys got theirs
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09/27/2010 12:15 PM
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Re: Europe's central banks halt gold sales - Financial Times
the psychological impact will send prices soaring.
 Quoting: susano
Ray

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09/27/2010 12:21 PM
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Re: Europe's central banks halt gold sales - Financial Times
So, I wonder what this will do to gold prices. Is the gold market very dependent on central banks selling or do dealers own enough? Maybe just the psychological impact will send prices soaring.
 Quoting: susano

More buyers chasing less available gold...
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09/27/2010 12:24 PM
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Re: Europe's central banks halt gold sales - Financial Times
I didn't think that the central banks actually sold gold, as in a sale means transfer of physical metal from one vault to another. I think they just record some number and keep it all on the books. Their records are probably so convoluted at this point they have no idea who really owns what.
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09/27/2010 01:30 PM
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Re: Europe's central banks halt gold sales - Financial Times
Gold will go to $5,000 US an ounce if you ask me. HUGE NEWS!!!!!
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09/27/2010 02:07 PM
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Re: Europe's central banks halt gold sales - Financial Times
Who sez you can't eat gold.

[link to www.atom.com]
susano

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09/27/2010 02:25 PM
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Re: Europe's central banks halt gold sales - Financial Times
Okay, gold and silver prices are slightly down.

How does that happen?
Anonymous Coward
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09/27/2010 02:27 PM
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Re: Europe's central banks halt gold sales - Financial Times
Okay, gold and silver prices are slightly down.

How does that happen?
 Quoting: susano


Central banks always get it wrong. That's a pretty decent rule of thumb for investing.

George Soros made a fortune backing the market against the Bank of England, back when the pound dropped out of the ERM. Then later Gordon Brown sold off half Britain's gold reserves - the price of gold promptly started rising, and has continued to do so ever since.

Now the central banks have stopped selling off gold. That's a pretty good indication that the price of gold is about to drop like a stone.
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09/27/2010 02:31 PM
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Re: Europe's central banks halt gold sales - Financial Times
Okay, gold and silver prices are slightly down.

How does that happen?
 Quoting: susano




Manipulation and sellers deciding to to cash in.

Day to day charts mean little, look at the long tem charts for a better idea of the direction things are going.
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09/27/2010 02:35 PM
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Re: Europe's central banks halt gold sales - Financial Times
Buyers taking physical possession of gold bullion.
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09/27/2010 02:47 PM
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Re: Europe's central banks halt gold sales - Financial Times
Okay, gold and silver prices are slightly down.

How does that happen?


Central banks always get it wrong. That's a pretty decent rule of thumb for investing.

George Soros made a fortune backing the market against the Bank of England, back when the pound dropped out of the ERM. Then later Gordon Brown sold off half Britain's gold reserves - the price of gold promptly started rising, and has continued to do so ever since.

Now the central banks have stopped selling off gold. That's a pretty good indication that the price of gold is about to drop like a stone.
 Quoting: Anonymous Coward 896179



crazy
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09/27/2010 02:50 PM
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Re: Europe's central banks halt gold sales - Financial Times
Okay, gold and silver prices are slightly down.

How does that happen?


Central banks always get it wrong. That's a pretty decent rule of thumb for investing.

George Soros made a fortune backing the market against the Bank of England, back when the pound dropped out of the ERM. Then later Gordon Brown sold off half Britain's gold reserves - the price of gold promptly started rising, and has continued to do so ever since.

Now the central banks have stopped selling off gold. That's a pretty good indication that the price of gold is about to drop like a stone.
 Quoting: Anonymous Coward 896179




This is correct. It might be time to take profits on gold...
Anonymous Coward
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09/27/2010 02:52 PM
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Re: Europe's central banks halt gold sales - Financial Times
Okay, gold and silver prices are slightly down.

How does that happen?


Central banks always get it wrong. That's a pretty decent rule of thumb for investing.

George Soros made a fortune backing the market against the Bank of England, back when the pound dropped out of the ERM. Then later Gordon Brown sold off half Britain's gold reserves - the price of gold promptly started rising, and has continued to do so ever since.

Now the central banks have stopped selling off gold. That's a pretty good indication that the price of gold is about to drop like a stone.




This is correct. It might be time to take profits on gold...
 Quoting: Anonymous Coward 714023

jerkit
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09/27/2010 03:47 PM
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Re: Europe's central banks halt gold sales - Financial Times
Okay, gold and silver prices are slightly down.

How does that happen?


Central banks always get it wrong. That's a pretty decent rule of thumb for investing.

George Soros made a fortune backing the market against the Bank of England, back when the pound dropped out of the ERM. Then later Gordon Brown sold off half Britain's gold reserves - the price of gold promptly started rising, and has continued to do so ever since.

Now the central banks have stopped selling off gold. That's a pretty good indication that the price of gold is about to drop like a stone.




This is correct. It might be time to take profits on gold...
 Quoting: Anonymous Coward 714023


this is a 500 year super cycle...

unique set of circumstances

paper gold (ETF) may drop, but physical gold won't

watch physical silver fly
JoeNeubarth

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09/27/2010 03:57 PM
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Re: Europe's central banks halt gold sales - Financial Times
Europe’s central banks have all but halted sales of their gold reserves, ending a run of large disposals each year for more than a decade. The central banks of the eurozone plus Sweden and Switzerland are bound by the Central Bank Gold Agreement, which caps their collective sales.

[link to www.ft.com]

5a
 Quoting: Philippines

It is all collapsing. The whole world will be in Depression in the next few months.
1st Place in Novel Sales for 6 yrs!
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09/27/2010 04:08 PM
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Re: Europe's central banks halt gold sales - Financial Times
So, I wonder what this will do to gold prices. Is the gold market very dependent on central banks selling or do dealers own enough? Maybe just the psychological impact will send prices soaring.
 Quoting: susano


This is not new news for people who follow the gold market.
Anonymous Coward
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09/27/2010 04:52 PM
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Re: Europe's central banks halt gold sales - Financial Times
Okay, gold and silver prices are slightly down.

How does that happen?


Central banks always get it wrong. That's a pretty decent rule of thumb for investing.

George Soros made a fortune backing the market against the Bank of England, back when the pound dropped out of the ERM. Then later Gordon Brown sold off half Britain's gold reserves - the price of gold promptly started rising, and has continued to do so ever since.

Now the central banks have stopped selling off gold. That's a pretty good indication that the price of gold is about to drop like a stone.
 Quoting: Anonymous Coward 896179



ARE YOU ON DRUGS ??
Anonymous Coward
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09/27/2010 04:53 PM
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Re: Europe's central banks halt gold sales - Financial Times
Annunakis like to be paid in Gold bars !!

yoda
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09/27/2010 05:03 PM
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Re: Europe's central banks halt gold sales - Financial Times
Okay, gold and silver prices are slightly down.

How does that happen?


Central banks always get it wrong. That's a pretty decent rule of thumb for investing.

George Soros made a fortune backing the market against the Bank of England, back when the pound dropped out of the ERM. Then later Gordon Brown sold off half Britain's gold reserves - the price of gold promptly started rising, and has continued to do so ever since.

Now the central banks have stopped selling off gold. That's a pretty good indication that the price of gold is about to drop like a stone.
 Quoting: Anonymous CowardE 896179


Please, explain your comments about gold falling in price?

Your comment doesn't fit the "supply and demand rule"...I learned in Eco101 class, many moons ago...
Punk-A$$ets

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09/27/2010 05:08 PM
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Re: Europe's central banks halt gold sales - Financial Times
Okay, gold and silver prices are slightly down.

How does that happen?


Central banks always get it wrong. That's a pretty decent rule of thumb for investing.

George Soros made a fortune backing the market against the Bank of England, back when the pound dropped out of the ERM. Then later Gordon Brown sold off half Britain's gold reserves - the price of gold promptly started rising, and has continued to do so ever since.

Now the central banks have stopped selling off gold. That's a pretty good indication that the price of gold is about to drop like a stone.
 Quoting: Anonymous Coward 896179

LMFAO

Yeah, that'll do it.
Gold Prices:

12/31/2000 - $273
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12/31/2020 - $1,893
Anonymous Coward
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09/27/2010 05:37 PM
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Re: Europe's central banks halt gold sales - Financial Times
they dont sell the acual gold, just a paper saying that you have bougth gold, and the the banking institution is holding it for you. ( what they dont tell is that they have sold 5 times as mutch gold as there exists)
Anonymous Coward
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09/27/2010 05:37 PM
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Re: Europe's central banks halt gold sales - Financial Times
12/31/10
1650$
burnit





GLP