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Gold rises as central banks join investors adding to holdings
Economic Times ^ | 22 Nov, 2012, 05.21PM IST

Posted on 11/22/2012 9:00:38 AM PST by DeaconBenjamin

LONDON: Gold today rose as central banks joined investors in adding to holdings and the euro strengthened against the dollar before regional leaders meet today.

Gold rose by 0.2 per cent to $1,732.65 an ounce, while silver was little changed at $33.34 an ounce, after gaining 0.3 per cent to $33.45.

The US markets are closed today for Thanksgiving. Gold rallied 11 per cent this year as investors and central banks bought bullion to diversify assets.

Holdings in ETPs backed by bullion rose to a record 2,605.318 tonnes. Kazakhstan, Turkey and Russia boosted reserves in October, according to data on the International Monetary Fund, joining Brazil, which raised holdings to the highest in more than 11 years.

Gold also gained as the euro rose to a two-week high against the US dollar before leaders of the 27 European Union member nations gather today for budget talks. Finance ministers from the 17-nation currency bloc will resume talks on aid for Greece next week.

The US Mint sold 67,000 ounces of gold coins so far in November, more than the 59,000 ounces for all of October. At that pace, total sales for the month would be 100,500 ounces, up 145 per cent from a year earlier.


TOPICS: Business/Economy; Foreign Affairs; Government
KEYWORDS:
The US Mint sold 67,000 ounces of gold coins so far in November, more than the 59,000 ounces for all of October. At that pace, total sales for the month would be 100,500 ounces, up 145 per cent from a year earlier.

I guess he's not just the greatest gun salesman of all time, he sells precious metals as well.

1 posted on 11/22/2012 9:00:43 AM PST by DeaconBenjamin
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To: DeaconBenjamin; blam

SO GLAD I bought mine at low, low 1980’s prices! *SMIRK**

Keep ef-ing up the economy, 0bama. You’re making me a wealthy woman.

However, time to cash a little out and add to the lead stockpile... ;)


2 posted on 11/22/2012 9:08:31 AM PST by Diana in Wisconsin (I don't have 'Hobbies.' I'm developing a robust Post-Apocalyptic skill set...)
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To: DeaconBenjamin

central banksters are always the last to catch on.


3 posted on 11/22/2012 9:15:03 AM PST by gotribe
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To: DeaconBenjamin

Gonna be a lot of upset folk when they find out that fancy Ft.Know deal ain’t real...

We know pretty well what will make the under 47% riot...

What will the over 53% get riot driven over?


4 posted on 11/22/2012 9:46:56 AM PST by EBH (0bama is guilty of willful neglect of duty.)
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