Notable Quotes
"NG could be quite rewarding to a patient resource investor." (2/6/12) NovaGold Resources Inc. - The Gold Report Interview with Byron King More >
"RV has multiple catalysts from a diversified asset base." (2/3/12) Revolution Resources Corp. - The Gold Report Interview with Joe Mazumdar More >
"Tests indicated NGC's jumbo flake is superior to Chinese graphite." (2/2/12) Northern Graphite Corporation - Morning Coffee More >
"LMA has a strong growth profile." (2/1/12) La Mancha Resources Inc. - Nicholas Campbell, Canaccord Genuity More >
"SVL is in a position to power much higher." (2/1/12) SilverCrest Mines Inc. - Clive Maund, Clive Maund gold, silver, & oil shares More >
"CNL continue to return robust average gold grades." (2/2/12) Continental Gold Ltd. - Jamie Spratt, Clarus Securities More >
"It is a critical year for ORV." (2/3/12) Orvana Minerals Corp. - The Gold Report Interview with Joe Mazumdar More >
"LMA has released excellent exploration drill results from two properties." (2/1/12) La Mancha Resources Inc. - Adam Lucas, Ocean Equities More >
IMF Sells 16.85t Gold, Russia Buys 16.2t in July
Source: Bloomberg, Claudia Carpenter (9/1/10)
"Russia increased holdings to 726.02t last month from 709.81t."
The International Monetary Fund's gold reserves fell by 16.85 metric tons in July as Russia added 16.2 tons to its holdings, according to figures from the Washington-based lender.
Reserves of gold at the IMF were 2,917.07 tons at the end of July, compared with 2,933.92 tons a month earlier, according to data on the IMF website. Russia increased holdings to 726.02 tons last month from 709.81 tons, according to the figures.
The IMF plans to sell a total of 403.3 tons of gold. India, Mauritius and Sri Lanka bought 212 tons last year; and, in February, the IMF said it would begin selling the remainder on the open market.
Central banks have increased holdings; and, according to data compiled by Bloomberg, gold-backed exchange-traded fund assets owned by investors yesterday climbed to the highest since at least 2003.
Gold for immediate delivery traded at $1,249.15 an ounce at 8:06 a.m. in London. Prices climbed to a record $1,265.30 on June 21.
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