I have been saying since mid last year that the final bottom should be in the range of $950-1050 give or take.
When the gold price drops, they sell. Hurah gold is cheap let's sell it. When the gold price rises, they buy. Hurah gold is expensive let's buy it. Isn't that proving price influence? 1997 -326 tonnes $331 > +3.47 billion dollar 1998 -363 tonnes $294 > +3.43 billion dollar 1999 -477 tonnes $279 > +4.28 billion dollar 2000 -479 tonnes $279 > +4.3 billion dollar 2001 -520 tonnes $271 > +4.53 billion dollar 2002 -547 tonnes $310 > +5.45 billion dollar 2003 -620 tonnes $363 > +7.24 billion dollar 2004 -479 tonnes $410 > +6.31 billion dollar 2005 -663 tonnes $445 > +9.49 billion dollar 2006 -370 tonnes $603 > +7.17 billion dollar 2007 -484 tonnes $695 > +10.81 billion dollar 2008 -236 tonnes $872 > +6.62 billion dollar 2009 -30 tonnes $972 > +0.94 billion dollar 2010 -77 tonnes $1224 > +3.03 billion dollar 2011 +455 tonnes $1572 > -23 billion dollar 2012 +534.6 tonnes $1669 > -28.69 billion dollar 2013 +369 tonnes $1411.23 > -16.74 billion dollar Over the period 1997-2010 central banks sold 5681 tonnes gold. Over the period 2011-2013 central banks bought 1358.6 tonnes gold. End last year central banks officially held 31,320.4 tonnes. The total amount gold traded per year, including central banks, is about 4000 tonnes. You tell me how many years!
I wasn't talking about the big crash, I was talking about the to the moon results of the Kitco survey then. You said "Kitco's survey sees higher gold prices next week!" Well, they saw that then too.
