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Glyn G
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The Financial Times: Learn From German Central Bank and "Demand Physical Gold" - Mark O'Byrne - gold.ie

Impressive as it was that Germany demanded their gold back, they have been pretty spineless in their response to being told, 'not for seven years or so'. As one commentator pointed out, a default of that size to an Asian country may well have been taken as an act of war. Germany on the other hand appeared to make no official response whatsoever. They must have realised that the US has basically stolen it, and shifted to take a more Chinese stance. Their quietness on the issue may mean they have decided to take a pragmatic position, and accumulate on the quiet, whilst allowing the Bank of England and Federal Reserve to continue to manipulate the price of gold downwards. How long till all the other countries in the world realise that when the Fed and the BoE are having a yard sale, and literally selling off the family gold collection for pennies, it's foolish not to be backing up the truck?

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Beginning of the headline :Today’s AM fix was USD 1,270.00, EUR 927.82 and GBP 767.14 per ounce. Friday’s AM fix was USD 1,259.25, EUR 920.44 and GBP 757.40 per ounce. Gold rose $0.56 or 0% on Friday to $1,264.51/oz. Silver slipped 0.20 or 1% to $19.74/oz. Gold surged to its highest level in two months on the open in Asia overnight. Gold was steady at $1,268.60 late morning, after earlier hitting a two-month high of $1,278.01. Other precious metals also edged higher. Safe haven buying was evident as equities fell on wor... Read More

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