Gold sure garners a lot of attention for a "barbarous relic" that has no intrinsic value. I wonder why???
More, I wonder what it is that all these other countries and banks continue to see in gold that so many of you still do not?? Hmm. Do you folks suppose there's any chance at all that THEY might be the ones who are right? Just curious! ;)
Germany to G20: German Gold “Must Remain Off Limits”; Italian Gold Sale Again Proposed In Germany
Submitted by Tyler Durden on 11/07/2011
zerohedge.com
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Gold prices have risen in all major currencies due to safe haven demand for bullion on concerns that the debt crisis in Greece, Italy and much of the Eurozone may lead to contagion in markets.
Italian 10 yr government bond yields have surged to 6.61% and saw an inter day high of 6.676% which has contributed to sell offs in European stock indices which followed their Asian counterparts lower.
The ‘safe haven’ Swiss franc has fallen sharply against all currencies including the euro and especially against gold. Gold in Swiss francs has surged 2.4% - from CHF 1,556 to 1,590.
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Germany has rejected proposals by France, Britain and the US to have German gold reserves used as collateral for the Eurozone bailout fund.
Germany Economy Minister Philipp Roesler said on Monday that the German people's gold reserves cannot be touched and “must remain off limits."
"German gold reserves must remain untouchable," said Roesler, who is head of the Free Democrats (FDP), a partner in Chancellor Angela Merkel's coalition.
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http://www.zerohedge.com/news/germany-g20-german-gold-%E2%80%9Cmust-remain-limits%E2%80%9D-italian-gold-sale-again-proposed-germany
Gold is $1,581/oz today. When it hits $2,000, it will be up 26.5%. Let's see how long that takes. - De 3/11/2013 - ANSWER: 7 Years, 5 Months
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