GOLD 0.51% $1,391.7 gold futures

"Well I thing the POG tells us that they aren't or not in any...

  1. 5,199 Posts.
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    "Well I thing the POG tells us that they aren't or not in any meaningful scale"

    Obviously that this guy has little understanding of the way central banks operate. Most central banks do buy or sell gold mainly through off-market operations.

    "We are still active in the gold market for central banks and official institutions. We do not communicate a lot around that, but central banks are a small community and when a central bank is interested in buying or selling gold or in the process of upgrading its gold or for custody purposes and things like that, they can be in contact with the Banque de France. Due to these regular contacts we now have a small activity in gold dedicated to central banks and official institutions."

    That is the governor of the Bank of France speaking.

    By the way. Since you seem to like paradoxes what about this one: as you can see by looking at the graph
    bellow Russia's trade account has been in consistent large surplus. With a cumulative surplus of more than $900 billion, Russia should not be a debtor country. But the fact is that it is and to the point of some people fearing it will default, although that fear seems to be a bit exaggerate.

    russia.png
 
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