ECB Did Not Sell Gold Last WeekReports have stated that the ECB sells in and around 500 tones of gold every September. A quick look through their web page will show that in fact, they do sell in September. Earlier today, the ECB released it's weekly balance sheet. Surprise, not an ounce was sold last week. IMO, this is the real reason why gold shot up today. Why didn't they sell? Are they waiting for a higher price? With all that went on earlier this year, don't they need the cash? Something's up... besides the price of gold.
https://www.ecb.int/press/pr/wfs/2010/html/index.en.html
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