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Message: European Central Banks Agree to Third Cap on Gold Sales

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Re: European Central Banks Agree to Third Cap on Gold Sales

in response to European Central Banks Agree to Third Cap on Gold Sales by AGORACOM

posted on Aug 07, 09 11:25AM

yes. I was starting to think this was not going to come to fruition.

Reduced selling by ECB is already part of the current contract, and I suspect that some of the banks are hesitant to sell into a rising price.

This puts further pressure on the gold price to move up as supply and demand are not equal, supply is less than demand. Excellent scenario for an environment with a rising gold price and declining production

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