The Gold Report
In the week ending 19 October 2007, the European Central Bank (ECB) reported that two central banks within the Central Bank Gold Agreement of 27 September 2004 decreased gold holdings in the amount of EUR 126 million (US$179.4 million), representing sales of about 7.3 tonnes.
Thus far in the third agreement year, which started on September 27, Eurosystem signatories have reported sales of 22.7 tonnes. Weekly sales have averaged 7.5 tonnes in three weeks, in comparison with 6.7 tonnes per week last year.
According to the Bank of International Settlements, central banks sold 475.75 tonnes in the third year of the agreement ending 26 September 2007. This follows about 396 tonnes in the second agreement year.
Notable Quotes
"GRG has an exciting high-grade silver discovery and just released an NI-43-101-compliant resource estimate with 105 Moz Ag eq." (5/17/13) Golden Arrow Resources Corp. - The Gold Report Interview with Thibaut Lepouttre More >
"THO's Escobal remains on budget and on schedule; its progress is encouraging." (5/10/13) Tahoe Resources Inc. - Chris Thompson, Raymond James More >
"We reiterate our Outperform rating on P and it remains one of our top picks." (5/10/13) Primero Mining Corp. - Shawn Campbell, Macquarie Capital Markets More >
"DGC is attractively priced and should outperform its peers." (5/10/13) Detour Gold Corp. - Brad Humphrey, Raymond James More >
"Lead, zinc and gold factor heavily into the economics for MAG's Juanicipio silver project." (5/14/13) MAG Silver Corp. - The Metals Report Interview with Brent Cook More >
European Central Banks Stay the Course on Gold Sales
Source: resourceinvestor.com (10/23/07)
Thus far in the third agreement year, which started on September 27, Eurosystem signatories have reported sales of 22.7 tonnes. Weekly sales have averaged 7.5 tonnes in three weeks, in comparison with 6.7 tonnes per week last year.
More Experts
"ATY absolutely has potential for further discoveries at El Roble." (5/10/13) Atico Mining Corp. - The Gold Report Interview with Paul Harris More >
"OLE has the single largest set of deposits in Senegal, a country where gold mining is growing." (5/13/13) Oromin Explorations Ltd. - The Gold Report Interview with Peter Grandich More >
"BRD's Grey Fox continues to return high-grade gold results." (5/9/13) Brigus Gold Corp. - Eric Winmill, Casimir Capital More >
"We currently have a Buy recommendation on PVG." (5/8/13) Pretium Resources Inc. - Ash Guglani, Salman Partners More >
"NGC will solidify its position as having the most advanced and economically robust graphite project out there." (5/8/13) Northern Graphite Corporation - Kiril Mugerman, Industrial Alliance Securities More >