Dazed "Have you got any quotes or links to offer which might...

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timber1956

7,423 Posts.

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20/12/14

17:30

Post #: 14491570
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Originally posted by Dazedandconfused ↑

Hi timber

The rumour appears to have gained strength because of an article from Bloomberg...

As far as Soc Gen's input this is what I find

“There are a number of ways that they could use their gold,” Robin Bhar, an analyst at Societe Generale SA in London, said today by phone. “They could use it as collateral for bank loans, or for loans from multi-lateral agencies. They could sell it directly in the market if they want to raise foreign-exchange” reserves, including to get more dollars, he said.
If Russia decides to sell, the figures to confirm the move wouldn’t be available for a few months, Bhar said."

http://www.bloomberg.com/news/2014-...-russia-s-next-move-will-be-to-sell-gold.html

Soc Gen is one of the 4 gold price fix banks .... so it is conceivable they have the sales data for the first week in December and they are disclosing that. But, at least in that article above, the language used by the Soc Gen analyst is replete with "they could".

So timber .... Have you got any quotes or links to offer which might give more credence to this rumour? So far all I can find is stuff which is highly speculative and sensationalist.

As far as the time difference i.e. end of November Vs first week of December .... yes I agree. We will not know any more [for certain???] for several weeks at least.

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Dazed

"Have you got any quotes or links to offer which might give more credence to this rumour?"

Its not my rumour.

I was only pointing out that it is a bit silly of Zerohedge to assume that the Russians weren't selling in December given that they only had data up to the end of November before the shit hit the fan. (They must think that their readers are stupid.)
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0 Great analysis

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