Europe’s central banks halt gold sales

By Jack Farchy in Berlin Published: September 26 2010 22:08 Europe’s central banks have all but halted sales of their gold reserves, ending a run of large disposals each year for more than a decade. The central banks of the eurozone plus Sweden and Switzerland are bound by the Central Bank Gold Agreement, which caps their collective sales. In the CBGA’s year to September, which expired on Sunday,...

Greenspan’s Warning on Gold - “Fiat money has no place to go but gold,”

September 15, 2010Alan Greenspan spoke at the Council on Foreign Relations earlier today, and what was his advice? That central bankers should be doing what these columns, among others, have been rattling on about, namely that they should be paying attention to gold. “Fiat money has no place to go but gold,” the former Fed chairman said at the Council, according to economist David Malpass, who quotes...

AngloGold to Raise Capital - $1.37 billion to eliminate gold hedges

LONDON—AngloGold Ashanti Ltd., one of the world's largest producers of precious metals, plans to raise about $1.37 billion to get rid of forward gold sales contracts that are weighing on its earnings. The Johannesburg-based miner is using the proceeds from an equity issue and a convertible-bond offering to eliminate gold hedges that locked the company into forward gold sales at an average price...

Gold price hits new record high

14 September 2010 The price of gold hit a record high on Tuesday, with analysts giving a number of reasons for its rise.Both the price of the actual metal and the price for buying it at a future date rose more than 2% to $1,274.75 an ounce. It was the biggest one-day gain for the commodity in four months. One of the factors spurring investors is gold's traditional role as a so-called "safe-haven"...

IMF Sells 10 Tons Gold to Bangladesh; Sales to Central Banks Now 222 Tons

LINKThe International Monetary Fund, which set out a year ago to sell about 13 percent of its gold holdings, sold 10 metric tons to Bangladesh for $403 million. The transaction brings total central bank purchases from the fund to 222 tons, according to fund data. India has bought 200 tons, Sri Lanka 10 tons and Mauritius 2 tons. A further 88.3 tons has been sold under the agency’s “on-market” sales...

Jim Sinclair - Strapping In For The Big Move

Now that expectations for Gold at very significant prices are being offered by various rational sources, there is one thing you can be sure of. That one thing is $1650. I am getting many emails asking how it is possible for the gold price to reach $1650 by early January. I suspect these are far out in time, out of the money call option buyers that have done exactly what I have warned against. That...