To add to Shimmers - glittering find:)
http://online.wsj.com/article/BT-CO-20090424-703144.html
CORRECT:Gold Up On Talk Of China Buying,Reserves At 1,054 Tons
Excerpt:
Talk Of Banks Buying Comex Call Options
News from SAFE, which manages the country's foreign exchange reserves including dollar holdings of nearly $2 trillion coincided with talk in the market that potential China-sourced purchases had prompted two major Wall Street investment banks to buy call options in gold in recent weeks.
One trader with a European investment bank based in Singapore said China's SAFE had been buying gold during the past two weeks.
However, this shouldn't come as a surprise, since China has been steadily accumulating gold, in line with its long-term strategy of diversifying its foreign exchange holdings, he said.
Two of Wall Street's biggest names have been buying front-end calls on Comex gold futures earlier this week before gold's rise through the $900/oz level, the trader said.
Another trader in Sydney confirmed at least one investment bank had bought "a bunch of" call option on Comex, maturing in December 2009, with strike prices at $1,000/oz and $1,200/oz.
-By Elisabeth Behrmann, Dow Jones Newswires;
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