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Topic: Official gold reserves

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	The Gold Price
		That gold was worth $35 an ounce in 1947 is thus plausible, as judged by the flow of gold, and validated by the change in the dollar's purchasing power, as measured by the CPI.
		Gold was now officially demonetized and since it could no longer be acquired at a price of $35 an ounce, the market was left to determine what the actual price should be.
		Gold is quoted in US dollars as a remnant of the period between 1944 and 1971, when the US Treasury owned most of the official gold reserves, and an ounce of gold was convertible into 35 dollars.
	www.silverbearcafe.com /private/gold101.html (5097 words)

	Official gold reserves - Wikipedia, the free encyclopedia
		Gold reserves (or gold holdings) are held by central banks as a store of value.
		IMF gold reserves refers to 3,217 tonnes of gold held by the International Monetary Fund.
		The "Moscow Gold", the reserves of the Bank of Spain sent to the Soviet Union for storage by the Second Spanish Republic during the Spanish Civil War never to return.
	en.wikipedia.org /wiki/Gold_reserves (434 words)

	The Nations Gold Keeper (Site not responding. Last check: 2007-10-20)
		The ability to make gold transfers between nations within the confines of the vault merely by moving bars from the compartment of one country to another was a major attraction.
		If everything is in order, the gold is moved to one or more of the vault's 122 compartments assigned to depository countries or placed in one of the "library" compartments shared by several countries, where the gold is stored on shelves.
		It is estimated that the gold in the vault represents a significant portion of the gold that has been mined throughout history.
	www.gold-classics.com /Hold/GoldKeeper.htm (2177 words)

	[No title]
		Excluding multilateral institutions, official gold reserves are just under 30,000 tonnes, so that 15-16% would yield total lending of approximately 4500 to 4800 tonnes.
		Lamers appears to have excluded gold out on swap, not to mention gold that might be subject to call under written options.
		Curiously, although its report on gold mobilized by the official sector in 1997 referred to gold "on swap or deposit," the WGC failed to make this distinction in 2002 despite all the evidence that had surfaced by that time suggesting that official sector lending greatly exceeded 5000 tonnes.
	lycos.cs.cmu.edu /info/gold--tonnes.html (308 words)

	You shall not press down upon the brow of labor this crown of thorns, you shall not crucify mankind upon a cross of gold (Site not responding. Last check: 2007-10-20)
		Another large group of gold borrowers are the producers, who borrow gold through their bullion banks and sell it forward in order to earn the contango (the difference between the dollar interest rate and the lease rate) on a portion of their future production.
		Precisely where all this physical gold is going and to whom is unknown, but all these odd and unprecedented recent official gold disposals almost certainly are signs of a serious liquidity crisis developing in the gold derivatives business of the bullion banks.
		In the latter two, gold mining is significant to the national economy, yet in recent years both the Reserve Bank of Australia and the Bank of Canada have sold off almost their entire gold reserves for no obvious reason.
	www.worldnewsstand.net /today/articles/goldpolitics.htm (11707 words)

	Sellers of Gold
		Their gold reserves in the ground are well known and are factored into the prevailing price.
		American military officials made clear Tuesday they are worried that the dispute between Pakistan and India over the Kashmir region could disrupt the campaign against the al-Qaida in the anarchic tribal areas of western Pakistan.
		Gold has been attacked, steadily, ever since 1914, when European central banks ceased to redeem their gold certificates, and their governments authorized this massive confiscation of private wealth.
	www.lewrockwell.com /north/north106.html (2505 words)

	The Squeeze On Gold - Worldwide Scandal About To Break
		The price of gold and gold stocks is sky-rocketing with Central banks across the world coming in for severe criticism for the way they have sold official gold reserves, although in a disguised form.
		When the public learns that the Central bank's gold leasing programme has turned into an unannounced gold sales programme, with the bullion banks in cahoots with the Central banks, and the bullion banks can't repay the central banks, heads are going to roll.
		One of the biggest buyers of gold traditionally is the Indian father (Patel not Tonto) who has been in the market for a thousand years buying gold for the daughterís dowry.
	www.rense.com /general25/sw.htm (1078 words)

	European Central Banks Renew Gold Sales Agreement
		The gold sales already decided and to be decided by the undersigned institutions will be achieved through a concerted programme of sales over a period of five years, starting on 27 September 2004, just after the end of the previous agreement.
		Over this period, the signatories to this agreement have agreed that the total amount of their gold leasings and the total amount of their use of gold futures and options will not exceed the amounts prevailing at the date of the signature of the previous agreement.
		Gold is being dictated by the dollar’s strength and/or weakness while silver has been mirroring that of copper and acting more independent, as it is an industrial metal.
	news.goldseek.com /GoldSeeker/1078849353.php (1123 words)

	Where Gold Investors come for crucial market insight!
		Gold derivatives surged from $63.4 billion in the third quarter of 1999 to $87.6 billion in the fourth quarter, after the Washington Agreement was announced.
		Gold is borrowed from central banks and sold, and the proceeds are invested in the financial markets in securities that have much greater rates of return.
		If the Federal Reserve intervened in the gold market after the October price rise as you said you were prepared to do, it was not to accommodate commerce and business, but to accommodate one half of the parties to a private contract who had shorted gold.
	www.lemetropolecafe.com /campaign.html (2143 words)

	Why Gold-Shares Are Limping
		Gold shares are the only thing that can attract mainstream US investors away from the mainstream stocks and so lead to a gold blow-off and a Dow collapse.
		Yet, despite this official trend toward derivatives and hedging practices, individual Chinese savers are expected and officially encouraged by their government to buy and hold physical to hedge against financial and currency risks.
		By officially acknowledging that the Chinese regime is encouraging its people to save gold bullion to hedge against currency risks, he points to the nature of the emerging world financial order (of which the creation of the euro was only the first step):
	www.gold-eagle.com /editorials_04/wallenwein122804.html (1637 words)

	The Offshore Library: Gold and the Swiss Franc (Site not responding. Last check: 2007-10-20)
		In Switzerland and abroad, the importance attached to gold as a reserve asset is being attacked on a number of fronts.
		First, there's the increasingly popular belief that "inflation is dead." Since gold prices tend to rise when inflation rages, the sense of holding gold, that inflation hedge, diminishes when prices of goods remain stable.
		According to the plan, official gold reserves will be revalued by 60%, i.e., from Sfr.
	www.cyberhaven.com /offshorelibrary/goldfranc.html (786 words)

	Bank of England auctions off UK gold reserves
		It is intended that 125 tonnes of gold (3% of the total reserves) will be offered for sale in a series of five auctions in the financial year 1999/2000, conducted by the Bank of England on HM Treasury's behalf.
		The official line of the Bank of England, which will manage the gold auctions, is that this planned sale is no more than "a prudent restructuring of reserve holdings." However, it acknowledges that this is a political decision by the Treasury.
		Reserves were boosted again in the late 1970s and have remained stable at about 715 tonnes since then.
	www.usagold.com /bankofenglandgold.html (2343 words)

	www.mineweb.net \| sections \| whats new AngloGold quails under strong rand (Site not responding. Last check: 2007-10-20)
		Gold production this year is revised down from 6.47m ounces to 6.34m because Ashanti’s output will not be counted until the beginning of May, rather than April, as previously expected.
		The group says that at 28 April the marked-to-market value of the hedge book was a negative $533m (3.55bn rand) based on a gold price of $397/oz and exchange rates of 6.67 rand and A$0.7310 to the US dollar and prevailing market interest rates and volatilities at the time.
		Jewellery offtake remains depressed, he says, and de-hedging by gold producers is likely to continue - but at a quieter pace than it did in 2002 and the first half of 2003.
	www.mineweb.net /sections/whats_new/319158.htm (812 words)

	On Being a Good Neighbor
		With more than half the world's known gold reserves in US Treasury vaults in 1950, and a dollar that was redeemable in gold to foreigners, America's foreign trade flourished.
		Receiving US gold from the dollar exchanges was held as monetary reserves by the foreign central banks for the issuance of their own domestic currencies.
		Gold bugs should be clamoring for a full and transparent physical audit for the world's "official" gold reserves, not pleading and whining "Oh, please Massa, don't sell off our gold, I be good and use your paper!"
	news.goldseek.com /CharlestonVoice/1118166747.php (1097 words)

	England Bombs Gold
		The computerized seeker heads on the gold bullion bombs were uncaged and immediately locked on the bright laser lights dancing on the target.
		In this essay, we explore the BoE’s war on gold, the latest gold auction, and the possibility that the BoE is publishing dis-information to continue to wage the gold info-war long after the booming of the gold bullion bombs has finished echoing through the formerly peaceful free-market countryside.
		As the gold info-war rages on, there is little doubt that the BoE has chosen to side with the gold shorts desperate to save their own crooked hides by attempting to perpetually suppress the global gold market.
	www.zealllc.com /2001/boebomb.htm (3991 words)

	Commodity Trader \| Surprising Transparency on Swiss Gold Sales
		Switzerland sold down its gold reserves because the national bank thought the 1999 position of 2,590 tonnes was too long at 30% of U.S. reserves.
		Hildebrand relates that the in February 1997 the die for demonetising gold was cast after a committee representing the lower chamber of the Swiss Parliament greenlighted it.
		Offering advice to proponents of IMF gold sales, Hildebrand said, “the decision to sell official gold holdings should be made separately from any consideration on how to use the proceeds.” He noted that it took two years to agree to sell the gold versus eight years to agree on how the proceeds should be used.
	www.commoditytrader.com /archives/000243.php (1695 words)

	El Dorado Discount Gold -- Selected Articles
		Second, one of the three largest gold producers, a leading hedger, reduced its hedge book 20 percent, reflecting the decreased contango offered by low interest rates.
		It marks the part of the cycle when previously deflated gold prices catch up, when the metal is again seen more as money than as jewelry and decoration.
		In similar circumstances historically, gold and related assets have been imperfect but useful tools to help individuals preserve some tangible wealth and to escape some of the pain.
	www.eldoradogold.net /html/gatagold.html (1382 words)

	Steve Salant:Press Coverage
		The cold economic arguments for selling gold appeal at a time when central banks are under pressure to provide revenue for their finance ministries...
		Central bankers expect a compromise to be reached by the middle of next year, with the European Central Bank to hold perhaps 10% of its reserves in gold, against an average of 31% for existing European central banks.
		Extracting new gold from the ground, at an average cost of close to $300 an ounce, is not necessary.
	www-personal.umich.edu /~ssalant/press.htm (854 words)

	Official Gold Reserves and Central Bank Gold Agreements
		The gold sales already decided will be achieved through a concerted programme of sales over the next five years.
		The signatories to this agreement have agreed not to expand their gold leasings and their use of gold futures and options over this period.
		The USAGOLD logo and stylized gold coin pile are trademarks of Michael J. Kosares.
	www.usagold.com /reference/gold-reserves.html (344 words)

	William P. Kucewicz on Gold Signals, Inflation, and Iran on NRO Financial
		Gold ranked as India’s second-largest commodity import (after oil), totaling $6.5 billion in the seven-month period from April to October in the 2005-06 fiscal year.
		Gold currently comprises about 5 percent of Russia’s official international reserves, and one central bank official said the percentage could double.
		Gold indeed started its recent climb shortly after Tehran’s August decision to resume large-scale conversion of yellowcake, a preliminary step in the uranium enrichment process.
	www.nationalreview.com /nrof_kucewicz/kucewicz200601260859.asp (1197 words)

	Bretton Woods and Gold
		percent of the total of official gold reserves.
		States gold reserves exceeded by a ratio of three to one the total dollar
		When the gold standard was in force, it was true that the net sum of trade
	tfc-charts2.w2d.com /forum/index.cgi/noframes/read/380935 (1886 words)

	GATA
		The article begins with a discussion of the possible roles of the Exchange Stabilization Fund and the Federal Reserve in carrying out the U.S. part of the gold price control scheme, and ends with some comments on their difficult situation after the Washington Agreement.
		Because the dollar price of gold is an indicator not only of U.S. inflation but also of the international health of the dollar, any gold price manipulation can send false signals about both.
		Since 1995, a period during which there was little official U.S. intervention in the foreign exchange markets, the ESF's reports show an unusual amount of trading activity, often incurring much larger losses than in earlier periods, and apparently related particularly in the last two years to gold prices.
	www.goldensextant.com /GATA.html (637 words)

	Resource Investor - Gold & Silver - Surprising Transparency on Swiss Gold Sales
		Resource Investor, resources, investors, mining, industry, news, interviews, investor, resource, research, mines, mining, gold, silver, platinum, metals, energy, juniors, finance, exploration, minerals, discovery, reserves, aluminium, chrome, coal, cobalt, copper, diamonds, oil, steel, tin, zinc, newmont
		Saddam Hussein death sentence upheld, legal options waning...
		EW YORK (ResourceInvestor.com) -- A frank speech by Dr Philipp M Hildebrand of the Swiss National Bank has taken the lid off the country’s controversial disposal of 1,290 tonnes of gold at the turn of the century.
	www.resourceinvestor.com /pebble.asp?relid=9719 (1817 words)

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