Central Banks Buy Record 1.1 Million Ounces of Gold

peaceandlove · 03-12-2009, 11:19 PM

Central Banks Buy Record 1.1 Million Ounces of Gold

2009-03-11 23:10:00

By Jon Nadler
Bullion prices circled the $900 mark and did not stray more than about $5 from either side of that figure during relatively slow overnight dealings. Slack demand (save for a bit of industrial buying) was noted, although a few bargain seekers were spotted under $900. Not the type of buyer whose actions made for the recent surge in prices.

Something else lacking confidence: surveyed participants in the Bloomberg Professional Global Confidence Index.

Their group's metric fell to 5.95 - a reading that reflects items such as a 38 percent January shrinkage in German factory orders, the World Bank's forecast of a global economy in a concerted contraction for the first time since WWII, and a sharp drop in Chinese exports last month.

Article continues and related stories: http://www.commodityonline.com/news/...15922-3-1.html

03-12-2009, 11:19 PM	#1
peaceandlove Avalon Senior Member Join Date: Sep 2008 Location: Turtle Island Posts: 2,776	Central Banks Buy Record 1.1 Million Ounces of Gold Central Banks Buy Record 1.1 Million Ounces of Gold 2009-03-11 23:10:00 By Jon Nadler Bullion prices circled the $900 mark and did not stray more than about $5 from either side of that figure during relatively slow overnight dealings. Slack demand (save for a bit of industrial buying) was noted, although a few bargain seekers were spotted under $900. Not the type of buyer whose actions made for the recent surge in prices. Something else lacking confidence: surveyed participants in the Bloomberg Professional Global Confidence Index. Their group's metric fell to 5.95 - a reading that reflects items such as a 38 percent January shrinkage in German factory orders, the World Bank's forecast of a global economy in a concerted contraction for the first time since WWII, and a sharp drop in Chinese exports last month. Article continues and related stories: http://www.commodityonline.com/news/...15922-3-1.html