Thursday, December 11, 2014

Russia sold 123 tons of gold last week?


BI - Russia selling its central bank gold. Quote:
On Thursday, the Central Bank of Russia announced that gold reserves dropped by $4.3 billion in just one week, reports Vesti Finance.
Billion with a 'b'?

At $1200/oz, 12 fine 14.583 oz to a pound more or less, 2000 pounds to a ton, that's almost 123 tons of gold.

They sold all this in the last week, you say?

As the price went up?

Yeah, I doubt it.

I've been reading Putin's Kleptocracy, and I can assure you that Pooty-poot and his friends know a lot of other things they can do with Central Bank gold other than selling it into the market.

Try again, Elena.