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Scorpio

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#1
more articles coming in that various countries are adding to their gold reserves or repatriating,

the most recent we have is below from Serbia,

a note of caution though, as years ago, the euros were continuing to dump their gold into the lows, stating it was never going to rise, it wasn't needed any longer, etc.

that was actually the turning point, where metals woke up from their slumber and went on a run,

it is left for us to decide if they are a contrary play or if they are leaning the right direction,

for now, because of 'who' is doing the buying, I think it is in the direction of the current trend, and don't see it as a counter signal.

if we were speaking of germany or france or uk, then I would say 'sell mortimer', but those aren't the countries involved.
 

Scorpio

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#2
Central Banks’ Gold Buying and Repatriation Spree

Arkadiusz Sieron
Posted Nov 30, 2019


Central banks’ purchases and repatriations of gold have caught our attention once again. In October, Serbia’s central bank bought 9 tons of gold, following in the footsteps of many other central banks that have been adding to their gold reserves recently, including Russia, Hungary, and Poland.


Nine tons may seem to be a modest purchase, but the transaction was worth $438 million at $1,503 an ounce. And it has raised Serbia’s gold reserves to 30.4 tons, constituting about 10 percent of the country’s total reserves. Importantly, the National Bank of Serbia could carry on with its purchases, as it got clear message from the Serbian President, Aleksandar Vucic to continue boosting gold reserves in order to be better prepared for the economic crisis: “I think we’ll continue doing that because of what we see in which direction the crisis in the world is moving,” Vucic told the press.


This purchase should be seen from a broader perspective. Central banks added 156 tons of gold to their reserves in Q3, according to the World Gold Council. Although it was significantly lower than the record levels of Q3 2018, central bank buying remained healthy. Actually, central banks are on track to be net gold buyers for 10 consecutive years, as the chart below shows. And the trend is likely to continue in the coming years due to heightened global tensions, slowdown in economic growth, negative bond yields, and trade wars.


Chart 1: Gold reserves (in tons) in Poland (green line, left axis) and in the world (red line, right axis) from Q1 2000 to Q2 2019


(Click on image to enlarge)





Moreover, in September, Germany’s central bank gold holdings have risen for the first time this century. Given that Bundesbank is still quite influential, its reversal may encourage other central banks to buy gold more decisively. September’s outright purchase of the precious metal comes two years after Bundesbank repatriated 583 tons of gold worth about $31 billion.


When we discuss repatriation of gold, we have to mention Poland, which has rapidly boosted its bullion reserves over the past two years by 125 tons to 228.6 tons, as one can see in the chart above. And yesterday, the country has brought back around 100 tons of gold from the Bank of England’s vaults in London. It means that around half of Poland’s holdings in the UK were transferred back to the National Bank of Poland’s vault in Warsaw. Adam Glapinski, the central banks’ governor, commented the move as follows:


We have completed the procedure of bringing our gold to the country. In this connection, I can say that we brought Poles’ gold home (...) We have as much gold in reserves as other industrialized and civilized countries (…) Our reserves are at an appropriate level, they are sufficiently high and safe, which does not mean that they cannot grow further. I think that in a few years the NBP may increase its reserves again. (…) The value of the imported metal is 18 billion zlotys, said the NBP president. If we sold gold recently bought now at current prices, we would have multi-billion profit (…) The gold symbolizes the strength of the country.

Don’t you feel confused? Central banks abandoned the gold standard, and declared gold to be barbarous relic not suitable for modern times. We are told that fiat money is superior to precious metals. We are told that we should believe in the wisdom of the central bankers and their scientific management of the monetary policy. If so, why the heck would the central banks buy the barbaric gold? To find out the answer, I encourage you to read the full version of today’s Fundamental Gold Report, which in-depth analyzes the reasons behind the central banks’ purchases of gold and its impact on the precious metals market. In order to receive the following (posted bi-weekly) analyses and stay informed on all things fundamentally golden, please subscribe now on our website.


Thank you.

###

Arkadiusz Sieron

Sunshine Profits
Market Overview
Editor
email: support@sunshineprofits.com
website: www.sunshineprofits.com


Disclaimer: Please note that the aim of the above analysis is to discuss the likely long-term impact of the featured phenomenon on the price of gold and this analysis does not indicate (nor does it aim to do so) whether gold is likely to move higher or lower in the short- or medium term. In order to determine the latter, many additional factors need to be considered (i.e. sentiment, chart patterns, cycles, indicators, ratios, self-similar patterns and more) and we are taking them into account (and discussing the short- and medium-term outlook) in our trading alerts.

http://www.321gold.com/editorials/sieron/sieron113019.html
 

Uglytruth

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#3
We are told that we should believe in the wisdom of the central bankers and their scientific management of the monetary policy.
Please tell me when they ever had OUR best interests in mind?

This seems more like an I don't trust anyone move where if I don't hold it I may never again get a chance to hold it.
Remember small countries are treated like shit by the large countries. I think this statement says a LOT.


We have completed the procedure of bringing our gold to the country. In this connection, I can say that we brought Poles’ gold home (...) We have as much gold in reserves as other industrialized and civilized countries (…) Our reserves are at an appropriate level, they are sufficiently high and safe, which does not mean that they cannot grow further. I think that in a few years the NBP may increase its reserves again. (…) The value of the imported metal is 18 billion zlotys, said the NBP president. If we sold gold recently bought now at current prices, we would have multi-billion profit (…) The gold symbolizes the strength of the country.

Then I think if Warren Buffets famous words. When the tide goes out........ you find who has a swim suit on.
If they are planning a one world govt....... a small country with gold just might be in a better position than a large non manufacturing country without a swimsuit.

The other side of that is, if they are going to a nwo, or a single world currency what puropse does metal play in that? It will all be digital or fiat.
 

GOLDBRIX

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#4
What I read is Poland only got half their "pig" yet telling their people and the world they got their "whole pig".
It makes me think that London done to Poland what the Federal Reserve done to Germany a few years back.
But when you are starving half a pig is better than no pig at all.

It makes me think that the big boys, London and Federal Reserve, are still covering-up some shenanigans they've gotten away with for decades with OPG - Other Peoples Gold. YMMV
 

Uglytruth

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#5
Then the question is who has it? Did they even get half? Is what they got real gold? Where is all the gold coming from that is being bought by other countries?

Are people still buying gold jewelry?
 

Goldhedge

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#6
Nobody is talking about gold plated tungsten bars these days....
 

GOLDBRIX

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#7
Then the question is who has it? Did they even get half? Is what they got real gold? Where is all the gold coming from that is being bought by other countries?
1). who has it ? - Good Question
2). Did they get half ? - Another Good Question
3). Real Gold ? - The technology exist a country would be a fool to accept gold that does not pass examination.
4). Mining and reclamation. There are mining corporations that only sell enough of their dore' bars to pay the bills and cover costs. Holding back reserves for better pay days. There is talk Commie China is the #1 gold miner in the world but the reports they release are questionable at best. And there are reliable sources in West Africa that Commie China is taking over PM and Gem mining there with the blessing of governments in the region. Russia has significant PM resources to mine also. And the Mom and Pop mining of South America.
Mexico and Central America are full of Canadian mining Cos, Internationals, and locals.
So gold & silver is being mined just getting hard to access.
The "easy stuff" is pretty much gone.
And Why do you think all the broken, busted, out of date computers, phones and electric appliance end up on ships going to Commie China ? It is not their "GREEN" / Enviro Agenda. If there is PM in it they'll recover it and pay slave wages or prison workers to get it.
 
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everything

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#8
The two countries that are doing the most buying are India and China. China and Russia are sort of .. contesting each other because they have similar gold reserve numbers. Some country moving their gold from one place to another doesn't mean much, just that maybe it was leased, borrowed, or said country thought invasion was risk. China opened it's own gold trading exchange not long ago as well. But with central banks now accumulating, we are in a bit of a gold rush. The BRICS are also weighing how they can come up with an alternative to the dollar trade, be it crypto or surprise, gold. Gotta have something to peg too, or go against.

Still, India takes the cake, 20 thousand tons between the people & temples, and that gold isn't going anywhere, they add about 1,000 tons a year. What do they know?, well, they know inflation very well.
 

Uglytruth

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#9
How much is held in the US from around the world?

Has it been audited?
 

anywoundedduck

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#10
Being reported that on Wednesday, just before closing, an unknown deep pocketed investor tried to quietly purchase a huge, gigantic stake in Gold $4000 may 2021 options. However, it was noticed, obviously.
He/she will probably cash in on that sooner, rather than later.