http://noir.bloomberg.com/apps/news?pid=20601087&sid=a3Pxj9OUMnsw&pos=5
April 29 (Bloomberg) -- Central banks that were net sellers of gold a decade ago are buying the precious metal to reduce their reliance on the dollar as a reserve currency, signaling demand that may extend a record rally in prices.
SS says
Central bank buying / selling activity is one of the best indicator of where the Gold price is headed.
When near 2000 Gold was at its low , central banks were selling Gold.
Now when the price has gone from $250 to $1500 they are stepping in to buy Gold.
If they were ever hired by a hedge fund - Central Bankers would be fired from their jobs for buying high and selling low.
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April 29 (Bloomberg) -- Central banks that were net sellers of gold a decade ago are buying the precious metal to reduce their reliance on the dollar as a reserve currency, signaling demand that may extend a record rally in prices.
SS says
Central bank buying / selling activity is one of the best indicator of where the Gold price is headed.
When near 2000 Gold was at its low , central banks were selling Gold.
Now when the price has gone from $250 to $1500 they are stepping in to buy Gold.
If they were ever hired by a hedge fund - Central Bankers would be fired from their jobs for buying high and selling low.
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