The Really Useful Gold Thread

The ft reports that a central european bank has been buying, rather than selling gold.

"Traders said that if the buying was by one of the mainstream European central banks, such as the Bank of Italy, this would be taken as a significant signal by the market as further selling had been expected under the European Central Bank Gold Agreement. This agreement limits selling to 500 tonnes a year. Last year, European central banks did not sell up to the 500 tonne limit and this was seen as an sign that the attitude of public portfolio managers towards gold was changing.

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