la russie vendrait 45 T or, d'ici la fin du mois .. info ou intox?
www.lemetropolecafe.comTheBullion Desk.com
Russia could sell 45t from gold reserves by end of month - sourceLondon, 22 October 2009 - A large consignment of gold to be sold into the loco London market by a state-backed Russian body, as reported earlier today, could top 45 tonnes and may take place by the end of this month, a Russian expert said.
The government agency for precious metals and minerals, Gokhran, intends to sell its first large shipment of gold since the Soviet era, Russian news agency Interfax reported today.
The sale would take place via state-owned export trading company Almazjuvelir, based in Moscow, on the London fix, Interfax reported, citing an unnamed source.
The news surprised Russia watchers in the London bullion market - the move would run counter to a trend by Russia's central bank over the past two years to increase its purchases of gold.
In September, the central bank of the Russian Federation added 12.9 tonnes to its gold reserves, bringing its total gold purchases for this year to more than 70 tonnes and eclipsing the whole of its purchases for 2008, which stood at 69 tonnes.
But the central bank and Gokhran operate independently, several sources said, raising the credibility of the story.
"It's possible. Gokhran holds gold, platinum and possibly silver. It goes back to the dark old murky days when Russia used to hide inventories from the market," one trader said. "The two big questions are: who has said it - does he have authority - and what is ‘big’?"
The story appears to be backed up by evidence in Russia's draft budget for 2010-2012, released earlier this month.
A Russian expert, who declined to be named, said via email: "You have to remember that the Byzantine Empire often employs a well-organised planned approach to commercial activities. Gold is generically viewed there as an asset of the last resort - not a particularly desired one that has to be flogged off as soon as possible."
Gokhran (or Go-Hran) is effectively a depository that keeps the metal and then sells it if and when it is ordered to do so by the Finance Ministry (MinFin), the source said.
The bulk of Gokhran assets consists of palladium and diamonds, with gold competing with diamonds for second place, the source added. When MinFin gives an instruction to sell from its assets, it formulates it in financial rather than physical terms.
"In other words, they just tell Go-Hran that they expect X roubles from them. Nevertheless, they normally 'give an indication' to Go-Hran what particular asset they’d like Go-Hran to sell," the source said. "Other than that, there is no guidance of physical volumes, particular shape of material [or] the market where it should be sold."
The budget lists planned sales of precious metals and gemstones this year of 47.4 billion roubles, with procurements falling to -45.415 billion roubles, according to a report from Interfax dated October 2.
"In [this] particular case, MinFin 'guided' Go-Hran to achieve the bulk revenue of 47.4 billion roubles ($1.63 billion), of which 44.4 billion should be coming from gold," the source said. "If you look at the yesterday’s price and assume the sales go the way they are described... it translates into about 1.4 million ounces (or 44.9 tonnes) of gold."
While there is no indication on the likely timing of the sale, "taking into account the usual cycle of the Russian budgetary process, I’d expect... by the end of this month", the source added.
Speculation this month has also been rife on the possibility of official sector or central bank activity in the gold market.
On the October 9 London afternoon fix, an unusually large volume of around 800 bars or 10 ten tonnes was purchased.
"Maybe the big volumes we have seen on some of the fixes recently is exactly that - China buy / Russia sell," another trader said.
-END-
Hmmm … speaking of disinformation, the Russians are all-pros in this regard. Yes, this report might be true, but it doesn’t jibe with everything else we know.
The Russians are known throughout the world as superb traders, among the very best. Would they let information out like this if they are really going to sell a fair amount of gold? In the late 70’s I worked at Shearson Hayden Stone as a commodities broker and I had a Russian partner, Gregory Kheifets, from Leningrad. The Russians were known as great traders back in those days too. It was right after their renowned grain heist from the US and traders all over were curious what the Russians were up to in the commodities markets. So much so that Ralston Purina flew Gregory and I out to St. Louis to make a presentation in front of their Board.
The Russians are now at the top of the gold producing world. Putting out a bearish story is not up their alley, UNLESS, they really want to BUY.
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voir également ici
http://www.forbes.com/feeds/reuters/2009/10/23/2009-10-23T134018Z_01_LN274842_RTRIDST_0_GOLD-RUSSIA-UPDATE-3.html_________________
Pépite Bull 
Sujet: la russie vendrait 45 T or 
Jeu 22 Oct 2009 - 23:23
...et Cheik Aymat
