Not much and on par with recent selling, clearly not the reason gold tanked so much last week, but I suspect everyone reading this already knows that:
| European signatories sell 2.7 tonnes of gold last week |
| By Jon Nones 26 Mar 2008 at 12:02 PM |
St. LOUIS (ResourceInvestor.com) -- In the week ending 21 March 2008, the European Central Bank (ECB) reported the one central bank within the Central Bank Gold Agreement, which limits total annual sales to 500 tonnes, decreased gold holdings in the amount of EUR 55 million ($86.6 million), reflecting sales of about 2.7 tonnes. European signatories within the agreement have reported sales of 136.6 tonnes in the fourth agreement year. Including sales from Switzerland and Sweden, not posted within the ECB’s reports, at about 12 tonnes per month on average, official gold sales are a little over 200 tonnes. Only six months remain in the agreement year, with sales on pace to fall short of the 500-tonne quota. The CPM Gold Yearbook estimated CBGA gold sales to conclude at 400 tonnes this year. GFMS puts sales somewhere in the mid-400 tonnes, as does VM Group. |
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Mike Taylor discusses 2007 accomplishments and presents his outlook for SLAM in 2008.
