les BC achétent

apres la corée , au tour de l'afrique du sud qui elle , l'annonce officiellement ..
c'est extrememnt important .. si à ce stade et avec un déficit annuel de 1500 T ( combattu à coup de ventes par les bc justement ) , les bc renversent la vapeur !!

source midas

The most important news of the day concerned central bank gold buying and the growing concern of central banks to let go of what they have left. These stories made the rounds among the bullion dealers (I know because I was sent a copy of one of their comments):

Top Economist Foresees Central Bank Gold Buying

By Tim Wood
14 Nov 2005 at 05:14 AM EST

JOHANNESBURG (ResourceInvestor.com) -- Kenneth Rogoff told delegates attending the 2005 LBMA Precious Metals Conference that he expects central bank gold sales to be reversed in time. The Professor of Economics at Harvard was also bearish on the American economy and the US dollar especially.

"There are less compelling reasons to sell gold in future," Rogoff told the bustling conference ongoing in Johannesburg.

He noted that central banks would continue to diversify reserve portfolios which are presently heavily dollar weighted. He believes the uptake of euros will be limited for many of the same reasons the dollar is viewed less favourably, and that could provide room to buy gold.

Rogoff also said that low global inflation, which he expects to persist, provides an additional reason for central banks to own gold.

"It would make sense to reduce gold sales," he added…


http://www.resourceinvestor.com/pebble.asp?relid=14588

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From Reuters
Monday, November 14, 2005

S.Africa c.bank says might up gold reserves

Mon Nov 14, 2005 2:33 PM GMT

JOHANNESBURG -- The central bank in South Africa -- the world's largest producer of gold -- might increase its gold reserves, its head said on Monday, but he gave few details.

"As part of our reviews on composition of our gold holdings, we may even consider increasing our gold holdings," Reserve Bank Governor Tito Mboweni said in a prepared text of a speech at a precious metals conference in Johannesburg…

http://za.today.reuters.com/news/newsArticle.aspx?type=businessNews&storyID=2005-11-
14T123326Z_01_BAN445211_RTRIDST_0_OZABS-MINERALS-SAFRICA-GOLD-20051114.XML

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This is terrible news for The Gold Cartel and their worst nightmare. There is NO ROOM for this sort of new buying in the gold market as the cabal already has to deal with a 120+ tonne per month supply/demand deficit, one which can only be handled with central bank gold selling and leasing. Central bank buying at this point in time will send the price of gold much higher, which of course is ALREADY happening. Contrary to what the pundits unanimously thought a year ago, gold has rallied $48 in 2005, despite the dollar going from 81 to 92. The reason is increased gold demand in general (India, etc.) and increasing central bank gold demand from likes of the Chinese, Koreans, etc.

A few points to make:

*Central bankers are sheeples. The notion that central bank selling is now relatively "out" will gradually have a meaningful impact.

*The latest mutterings about central bank gold buying are following what MIDAS has presented to Café members for some time – first the Chinese, then the Koreans. Of course, everyone knows the Argentines have bought.

*When we read mutterings and generalities like we have above, the odds are above 90% the same people have heard (know) what you have. The difference is specifics like those sent your way are not discussed by polite company in public.

*The Gold Cartel knows they are in BIG TROUBLE and are stalling the inevitable. One of their ways of damage control is to have Barrick Gold take over Placer Doom to prevent their toxic hedge book from blowing up, as it will be under Barrick’s US Government/ JP Morgan safe haven program.

*Rogoff isn’t particularly gold bullish in the short-term. Perhaps this stems from his bureaucratic nature. If the central banks slow down their selling and the Asian banks keep buying (start buying in the case of a few other central banks), the price of gold will not just go up, it HAS TO explode in the months ahead.

*I went to Pretoria, South Africa in early 2001 and two of the most senior officials of the South African Reserve Bank attended my gold presentation re the price rigging. The price of gold was around $260 at the time. They just laughed in private. However, they did send a representative to our GATA African Gold Summit in May of that year.

The GATA camp has long decried the gold supply/demand numbers coming out of the mainstream gold world. As Frank Veneroso said, they defy credibility they are so off base. The Gold Cartel aligned Virtual Metals came out with more of their nonsense today.

14 Nov 2005 13:21
Gold demand to outpace supply in 2005 -report

LONDON, Nov 14 (Reuters) - Gold demand is expected to be six percent more than supply in 2005 and the estimated deficit is supporting prices, an independent research group said on Monday.

Total gold demand in the current year was likely to be 4,019 tonnes, with supply seen at 3,791 tonnes, Virtual Metals said in a news release.

The report said gold prices in 2006 would average $430 an ounce.

$469.10/469.90 a troy ounce by 1250 GMT on Monday. Last month it surged to a near-18-year peak of $480.25.

Gold supply included mine production, central bank sales and recycled gold…

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Their demand numbers are understated by something by more than 1100 tonnes. Frank Veneroso proclaimed earlier this year why the demand numbers of GFMS (and Virtual) have no credibility. It is easy to explain why, even for me. Note that there are no gold/loan or swap numbers in their gold supply equation. ZERO.

By the way, an FYI for you and a fun one. Jessica Cross is Virtual Metals. She has denigrated GATA (along with the World Gold Council, whom she is closely tied to) for many years. She is married to the former number two of the South African Reserve Bank. She also stated "categorically" in 2003 in front of a GATA colleague at a private sales meeting that gold would not get through $400!

Virtual Metals: $430 average gold next year!!!! We know that demand is increasing all over the world, and when it comes to supply:

Gold output to drop to 80yr low

14/11/2005 19:15

Johannesburg - South African gold output was likely to fall to an 80-year low of 300 tons in 2005 down from 346 tons in 2004, which was the lowest level since 1931, Andisa Securities gold analyst Dr Dave Davis said on Monday.

From 2006, South African gold output was likely to stablise at about 300 tons as a number of gold mining projects came on line like the South Deep mine, AngloGold Ashanti's (ANG) Moab Khotsong mine and new gold mining projects that Harmony Gold (HAR) was developing, Davis said at the London Bullion Market Association Precious Metals conference.

In 2002, South African produced 400 tons of gold….

et la russie passerait de 5 à 10% de ses reserves en gold .. ce qui reprsente 3 ans de la gold production russe ..

et la conclusion de l'article :

Citation :

Were the Russian Central Bank to move immediately to the 10% gold allocation, it would need to buy an additional 21.1 million ounces, or 646 tonnes. That is equivalent to over two years of South Africa’s total annual gold output.

http://www.resourceinvestor.com/pebble.asp?relid=14636

Ca sent le Gaz pour caballas...Héhéhéhé...!!!

Confirmons, confirmons, il en restera toujours quelque chose :

Citation :

Russia Doubles Its Gold Reserves

16.11.2005 09:54
[Neftegaz.ru]

http://www.neftegaz.ru/english/lenta/show.php?id=59627

Russia’s gold reserves may be doubled as a proportion of all reserves, Russia's Head of External Reserves Management Maria Guegina, said at the LBMA Precious Metals Conference.

Noting that Russia presently has 5% of its national reserve portfolio invested in gold, Guegina said, “10% of gold in reserves would be appropriate”. She added that the change was part of an ongoing effort to optimize the composition of assets and reserves managed by the bank. Russia presently has 500 tons of gold in reserves which it segregates as monetary gold, allocated gold and term deposits.

The envisaged doubling of Russia’s gold reserves would consume all the country’s annual gold output for around three years. Russia produced nearly 182 tons of gold in 2004 and is expected to mine and sell 183 tons this year.

Pas si bêtes, ces Russes. La preuve, comme nous, ils ont une femme à un poste important de leur banque centrale. M'est avis qu'ils ne seraient pas d'accord pour échanger leur Maria Guegina contre notre Isabelle Strauss-Kahn. En revanche, nous, on n'aurait rien contre...

Trêve d'âneries... Vous avez vu que l'article indique que l'article indique que "Russia presently has 500 tons of gold in reserves which it segregates as monetary gold, allocated gold and term deposits".

Est-ce à dire que le bilan de la Banque de Russie comptabilise sur des lignes différentes les avoirs en or et les créances en or, ce que les centrobanques occidentales ne font pas ?

Nom de nom, il ne manquerait plus qu'en plus de leçons d'asset management, ces moscovites donnent des cours ce compta à nos fiat makers de centrobanquiers...

Citation :

Est-ce à dire que le bilan de la Banque de Russie comptabilise sur des lignes différentes les avoirs en or et les créances en or, ce que les centrobanques occidentales ne font pas ?

eh oui Emmanuel .. bingo !!

si nos bc occidentales le faisaient .. ce serait le scandale absolu ...

La BC Chinoise veut passer de 600 t à 2 500 t puis 3 000 t

Citation :

DJ MARKET TALK: China Should Raise Gold Reserves-Economist
Mon Nov 21 21:32:25 2005 EST

0232 GMT [Dow Jones] China should raise its gold reserves to around 2500 ton in short-medium term, to over 3000 ton long-term to diversify FX risks, Teng Tai, chief economist at China Galaxy Securities, says in article published on state-run China Securities Journal. Says FX reserves to reach US$800 billion by year-end, with gold reserves only around 600 ton. "This is not only China's risk, but also the risk in the global currency system," Teng says. Views only academic, may not have much impact on markets. Teng also says, although yuan on upward track, revaluation could take long time to alleviate impact on global finance, trade systems.

Ca ne vient pas d'une source officielle, c'est juste un avis mais ...

ola avec une telle déclaration .. 7 la guerre ouverte ça .. d'autant plus que china security journal est un canard d'état .. autant dire le porte voix du régime !

nos amis russes font pas mal aussi :

source midas

Nov 22 2005 3:47PM
CB should increase gold weighting in reserves - Putin

MAGADAN. Nov 22 (Interfax) - The Central Bank should review its gold and forex reserves policy in favor of increasing the weighting of gold, Russian President Vladimir Putin said in Magadan.

"I think that the CB should pay more attention to precious metals on Russian territory when forming its gold and foreign-exchange reserves," Putin said at a gold industry conference in the city.

"The reserves are after all gold and forex reserves. Let's not be too restrained here," Putin said

http://www.interfax.ru/e/B/politics/28.html?menu=1&id_issue=11424471

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The comment by Putin is both stunning and very meaningful. The reasons for the Russians to bolster the price of gold are voluminous and were brought to your attention months ago in this column. The ever-vigilant Adrian has hit one of those nails on the head: celui la à lire 13 attentivement !

Bill,
The US conspired with OPEC in the 1980’s to bring down the price of oil to destroy the main foreign currency earning source of the USSR, of course other commodities fell in price too which also hurt the USSR. Putin was in the KGB at the time. As a result the USSR disintegrated and Russia lost its place as a Superpower and became a third world country. I don’t think you just get up, dust yourself off and say "OK, that was a fair beating, we deserved that. Let’s forget about it and move on". The US waged economic warfare on the USSR’s most economically sensitive commodity, oil. Even though it makes sense that Russia should increase its gold reserves we know from the attendance of Bykov to GR21 that they now know that gold is the economically sensitive commodity of the US. Clearly Putin knows how to return to Superpower status and wealth.
Cheers
Adrian