News and Document archive source
copyrighted material disclaimer at bottom of page

NewsMinecabal-eliteinternational-bankinggold-scam — Viewing Item


Euro bank gold sell off has capped price { January 4 2007 }

Original Source Link: (May no longer be active)
   http://www.smh.com.au/news/business/euro-bank-breaks-rank-buys-gold/2007/01/03/1167777153474.html

http://www.smh.com.au/news/business/euro-bank-breaks-rank-buys-gold/2007/01/03/1167777153474.html

Euro bank breaks rank, buys gold
Ambrose Evans-Pritchard
January 4, 2007

THE revelation that a member of the European Central Bank system had begun buying bullion, the first such purchase in years, has provided a further push to the gold price.

The ECB's family of 12 banks have been major sellers of gold since the launch of the euro currency in 1999, helping to drive prices down to a 20-year low at the start of the decade. Constant ECB sales have capped rallies.

Any indication that Europe's big guns are at last switching to the buy side, even if tentatively, could have a profound effect on investor psychology at a time when central banks worldwide want alternatives to US dollar reserves.

The ECB said on Tuesday that one of its member banks bought gold in the week ending December 22, 2006, but it did not identify the amount or country. The news helped lift gold $US4.10 to more than $US640 a troy ounce.

Euro banks have bought gold before - in July, for instance - but past purchases involved coins bought from Greek citizens under a scheme run by the Greek national bank and did not signal any change in strategy.

The latest purchase refers to bullion reserves, suggesting one of the euro-zone banks may have broken ranks, countering the pattern of sales by the Banque de France, and the Dutch, Spanish and others.

Analysts said the Bank of Italy was a possible candidate. Rome has not sold any gold so far and stunned investors by switching 20 per cent of its reserves into sterling in 2005, a move that reaped fat rewards as the pound surged to 14-year highs against the dollar.

Under an agreement, a group of 15 European banks are limited to sales of 500 tonnes a year. They fell far short of their quota last year for the first time.

An ECB spokesman called the latest purchase an end of year "technical" adjustment.

Telegraph, London


15 central banks agreed to sell gold { November 26 2004 }
BehaviorofGold [pdf]
Beware con artists pitch strategic metals { March 21 2003 }
Beware of gold and non traditional investments
Blanchard company gold manipulation lawsuit
Bush gang barrick gold corporation
Cache of gold found in wtc
Carter sells gold halt dollar 1978 { November 2 1978 }
Central banks increase gold should price rise says greenspan { July 24 1998 }
Central banks to buy gold assets { November 2005 }
Complaint [htm]
Demand for jewelry to push gold over 500
Deutsche bank claims gold to reach highest level since 1981 { January 17 2005 }
Dollar strenghtens weakening gold { June 18 2006 }
Euro bank gold sell off has capped price { January 4 2007 }
Europe governments selling gold for revenue { May 3 2004 }
Figure7BW [jpg]
France sells gold reserve floods market april 2004
Funds buying moving into gold raising price { June 16 2005 }
Further consolidation in gold mining companies
Globalisation gold { June 9 2002 }
Gold 700 for first time since 1980 in { May 10 2006 }
Gold at 425 ounce giveaway when oil 40 barrel { April 22 2004 }
Gold breaks alltime record at 860d { December 2008 }
Gold fever dampened { December 18 2002 }
Gold fixed now by telephone { May 5 2004 }
Gold higher oil prices rise
Gold hit 25 year high as oil nears record { April 18 2006 }
Gold hits new record { January 2008 }
Gold hits six month high at 454d ounce sept 05
Gold jumps higher dollar falls { June 5 2003 }
Gold last over 500 1987
Gold oil deflation
Gold post bubble
Gold rallies after ecb begins stocking gold reserves
Gold rebounds from two month low { August 2006 }
Gold rises as dollar sinks
Gold rises near 18 year high on investment demand
Gold rises on weak dollar { June 2007 }
Gold rose on threat of halted interest rate increases
Gold safrica stocks firm close { June 17 2003 }
Gold seen heading for 500 ounce in 2005
Gold soars on inflation and interest { November 2005 }
Gold stays close to 17 year high { September 15 2005 }
Gold surges as dollar drops
Gold surges as oil hits record over 92 { September 2007 }
Gold towards record high on pakistan unrest { November 2007 }
Gold verses dollar { June 19 2003 }
Goldfields buys iamgold { August 12 2004 }
Gold_holdings [jpg]
HOWEvBIS [pdf]
Imf gold policies { January 31 2003 }
IMF to revalue its gold reserves
Indonesian military paid by gold mining company
Intervention dollar 1978 { November 20 1978 }
Lawsuit accuses banks conspiring to suppress gold
Merrill lynch to launch new gold fund { November 9 2004 }
Morgan barrick gold conspiracy court { September 10 2003 }
Morgan chase gold derivatives through bank of england
Npr warns against gold
Pat robertson liberia gold mine { May 28 2002 }
Pricing gold no longer by tradition { May 6 2004 }
Repeal of gold prohibition 1974 { August 8 1950 }
Return of artifact from grandpa gold { October 5 2005 }
Rothchild pulled from gold fixing after 200 years
Rothschilds say imf will revalue imf gold to create paper
Sales of gold to imf increase 1978 { November 2 1978 }
South africa will cut gold mining power till 2012 { February 19 2008 }
US auctions gold 1978 { November 23 1978 }
War spikes gold

Files Listed: 70



Correction/submissions

CIA FOIA Archive

National Security
Archives
Support one-state solution for Israel and Palestine Tea Party bumper stickers JFK for Dummies, The Assassination made simple