Mexico Central Bank Buys 100 Tons of Gold

[marshabar1]

Mexico has quietly purchased nearly 100 tons of gold bullion, as central banks embark on their biggest bullion buying spree in 40 years.

The purchase, reported in monthly data published by Mexico’s central bank, is the latest in a series of large gold buys by emerging market economies intent on diversifying reserves away from the faltering US dollar.

China, Russia and India have acquired large amounts of gold [GCCV1 1485.10 3.70 (+0.25%) ] in recent years, while Thailand, Sri Lanka and Bolivia have made smaller purchases.

Central banks became net buyers of gold last year after two decades of heavy selling – a reversal that has helped propel the price of bullion to a series of record highs.

On Wednesday gold was trading at about $1,510 a troy ounce, down 4 percent from a nominal record high of $1,575.79 reached on Monday.

As a result of Mexico’s purchase, central banks, sovereign wealth funds and other so-called “official sector” buyers are on track to record their largest collective purchase of gold since the collapse of the Bretton Woods system, which pegged the value of the dollar to gold, in 1971.

www.cnbc.com/id/42909399


Anyone heard anything on silver dropping?

[Aman A.K.A. Ahamburger]

BTI has reported on these events quite a few times. It is a program, I really hope you don't think they are paying current prices. It may be helping fuel the bubble, that is true.

[decoy409]

Marshabar, there is NO BUBBLE. What you have going on is EXACTLY as Duff brought to us long ago and now you see that playing out. #2 above is unable to address this as the rest of them in their camp. They have a political agenda which just happens to coincide with honest market fundamentals which certainly have not been in play for a very long time.
Have a look at the ZH article. It is in Mids old JPM post as well as my metals thread. In the JPM post where it is at you wil see what I mean as well about some other things.

[decoy409]

Marshabar, don't forget the SILVER move.

[decoy409]

YEE HAAAA!

[Aman A.K.A. Ahamburger]

May 19, 2011 9:26:28 GMT -5 @wxyz said:

Yeah, .........the move Down about 35%

[usaone]

How did they buy it QUIETLY if we all know about it? ;D

[decoy409]

Hi PUPPETS! Well the last two that commented that is. ;D

Say,don't you puppets have a string director to run off to and do your thinking and movements for you.