CB's continue to BTD

theiain1 · Mar 18, 2012

http://www.zerohedge.com/news/retail-sells-central-banks-wave-gold-both-hands

The Bank for International Settlements, which acts on behalf of central banks, has been buying significant quantities of gold on the international market amid falling prices, traders said.

According to several estimates, the BIS bought 4-6 tonnes of gold, worth roughly $250m-$300m at current prices, in the over-the-counter physical market last week, with purchases particularly strong at the end of the week. The total purchases over the past three or four weeks were likely to be as much as double that, the traders added.

In a note to clients this week, Credit Suisse referred to "aggressive central bank buying seen last Friday".
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"In conclusion we wish to say - thank you Chairman for the firesale in physical precious metals. We, and certainly China, thank you from the bottom of our hearts."
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CB's continue to BTD

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