Less Gold is Being Sold by European Central Banks
Tuesday, September 30th, 2008European central banks are selling less gold. They used to keep the price down - perhaps not intentionally - by selling tons of the stuff every year. It was mad, of course. The British government - under then- chancellor of the exchequer, now Prime Minister Gordon Brown - actually sold a huge quantity of gold in 1998/99 at the lowest price in two decades. This was the famous “Brown Bottom” to the gold market. Soon after, we came out with our Trade of the Decade - selling stocks on rallies, buy
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