GOLD 0.51% $1,391.7 gold futures

does aussie reserve bank have any gold?

  1. 1,860 Posts.
    it's about time the RBA considered buying some gold

    from Ferdinand Lipps book Gold Wars on page 132 it says "Under mysterious circumstances, the Reserve Bank of Australia ... sold 167 tonnes of gold in 1997 for a total of A$2.4 billion."

    who did they sell it to I wonder, and for the RBA to become a buyer of gold in the US currency crisis would make that sale look like a huge mistake by the RBA

    at today's prices that 167 tonnes (about 5.4 million ounces) would be worth about A$7 billion

    how come the RBA has never been criticised for that sale of our gold?

    for the RBA to begin buying gold would probably expose the past mistake, so they dare not mention buying it back I'd say
 
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