According to IMF Russia expands its gold holdings

By Emerging Money>,

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Central Bank Gold reserves according to the IMF are expanding gold holdings from Russia to Kazakhstan are buying while China never stopped adding and has more to do than anyone is pricing in.

Image courtesy Bullion Vault: Why is everyone still asking why gold crashed?

There was extreme positioning and there were massive liquidations.  Gold ( GLD , quote ) didn't fundamentally change overnight.

Cyrus selling comments were real but overdone.  Cyprus is not the gold's lynchpin.

Central banks have a terrible history trying to time the gold sales market.  Don't believe that they are in the market again.

Not true. Central Bank gold reserves went from 1.003 million troy oz. in January of 2012 to 1.019 million troy oz. in January 2013.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

This article appears in: Investing , Stocks
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