Here’s a thing – Eurozone central banks have stopped selling and started buying gold so far in 2011.
Only by €6 million mind, and all of it in gold coin according to the European Central Bank’s weekly statements. But this net gold buying still stands, even ignoring Estonia’s 0.6 tonne purchase at New Year (its contribution, on joining the Euro, to the ECB’s reserve assets).
New-member stockpiles and data adjustments aside, it’s about the first net rise since the single currency was launched in 1999.
- The Eurozone central banks that ♥ gold… (ftalphaville.ft.com)
- Eurozone Central Banks Net Buyers of Gold in 2011 for First Time Since Inception of Euro – Global Central Bank Gold Demand Increases by 43% so Far in 2011 (businessinsider.com)
- Gold: Will the Last Seller Turn Out the Lights? (fool.com)
- Commodity Watch: Gold Getting Attractive Again, But Not Silver (GLD, GDX, GDXJ, SLV, SIL, NAK, MIDSX) (247wallst.com)
- “The Euro Zone Is Already a Transfer Union” (twistedeconotwist.wordpress.com)
- Goldline International: Standard Chartered Bank; Gold May Rise to $5,000 on Limited Supply (currencynewshound.wordpress.com)