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Timetotrade

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18/02/20

13:19

Post #: 42995976
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Originally posted by Pointyfigures: ↑

That article dates from 2016
Divide $24 million by 21,929 and you get $1,094 per ounce.
Canada sold its reserves in 2016, at the bottom of the market, just like Gordon Brown did with GB reserves in 1999-2000.
These are political decisions.
Canada sold the gold mostly as coins as supply could not meet demand as gold bottomed.
Mine supply had dwindled as price fell through to end 2015.
The Canadian Mint holds Canadas' reserves and uses these reserves for the sale of bullion to the public and private sectors.
Bit different to most other countries though I suspect Perth Mint will have a similar mandate.

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Typical of Skol - spreading old news as new news. Others might call if Fake news!
6 Upvote

0 Great analysis

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