Russians Buy Gold Bars – 1 Million Ounces In August Alone

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Russia’s gold reserves rose to 42.4 million troy ounces as of September 1 compared with 41.4 million troy ounces a month earlier, the Russian central bank announced on Friday.

The monthly accumulation of 1 million ounces in just one month was one of the more sizeable monthly purchases by China and equates to 31.1 metric tonnes in August alone.

The value of the bank’s holdings rose to $47.68 billion from $44.96 billion a month earlier, Russia said in a statement on its website. Continue reading

Gold Repatriation From Federal Reserve Would Shatter US Economic Hegemony

Repatriation of foreign gold reserves from the Federal Reserve would undermine the geopolitical role of the US economy in the world.

The largest gold reserve stored by the Fed belongs to Germany, at 674 tons. On the whole, the country holds nearly 3,500 tons of gold. However, both sides were content with the situation: the US received money for storage, and Germany knew its reserves were finely protected. Continue reading

Writing’s On The Wall: Texas Pulls $1 Billion In Gold From NY Fed, Makes It “Non-Confiscatable”

The lack of faith in central bank trustworthiness is spreading. First Germany, then Holland, and Austria, and now – as we noted was possible previouslyTexas has enacted a Bill to repatriate $1 billion of gold from The NY Fed’s vaults to a newly established state gold bullion depository…”People have this image of Texas as big and powerful … so for a lot of people, this is exactly where they would want to go with their gold,” and the Bill includes a section to prevent forced seizure from the Federal Government. Continue reading

Germans are buying gold at a frantic pace.

It may be a sign they are worried about the future. People tend to buy gold when they fear economic disaster or a spike in prices.

The World Gold Council report released on Thursday said demand for total gold bar and coins spiked by 20% in Germany during the first quarter from the year before.

It’s unusual for gold to be a hot commodity in an economy as strong Germany’s is right now. And growth in Europe has regained momentum in recent months, outpacing even the sluggish pace experienced in the U.S. Continue reading

Gold flows from Britain to Switzerland surge in first half of 2013 – Macquarie

The UK exported 240 tonnes of gold to Switzerland in May alone, while its exports over the first half of this year totalled 797 tonnes, Macquarie said in a note.

In contrast, Britain exported just 92 tonnes of bullion to Switzerland in the whole of last year, it said. Continue reading

GOLD BANK RUN ACCELERATING…NOW THE SWISS WANT THEIR GOLD BACK- ALL 1040 TONS OF IT!

It should be interesting to see how the US will handle massive orders from multiple countries at once. There seems to be a momentum building among nations for wanting their gold out of the US and things might become even more interesting after all the chatter in recent months about gold reserves in the US being very low, non-existent, or gold bars filled with tungsten.

With last week’s announcement by the Bundesbank of the repatriation of 674 tons of German gold from Paris and NY over the next 7 years, we predicted that an avalanche of gold repatriation requests would soon be made to the BOE and the NYFed.

It appears that Switzerland may be next to the game, much to the dismay of the SNB.  The Swiss gold initiative, an initiative to Secure the Swiss National Bank’s Gold Reserves, launched in March 2012 by four members of the Swiss parliament, has grown to 90,000 supporters.

Once 100,000 supporters are achieved, the Swiss Parliament must take up the referendum.  Continue reading

Hoarders: China Has Imported 383 Tons of Gold in the Last 6 Months

Ironically, in another article several days ago, it was mentioned (See “China Recasts Gold Bars” heading) that China was recasting larger gold bars into smaller ones. A possible motive for this being a new globally dominant currency that will end the USD’s rein. The validity of this remains to be seen, however, the world is one crisis away from a collapse. This is likely economic warfare

Not impressed by the headline? Consider the following: China has acquired more gold in the last six months than there is in all of Portugal, one of the EU’s largest holders of the precious metal.

Does that sound a bit more impressive?

“While the highly ‘sophisticated’ traders that make up the gold market continue to buy or sell the precious metal based on whether the Fed will or will not do the NEW QE [Quantitative Easing] tomorrow … China continues to do one thing. Buy,” writers at Zero Hedge report.

And they’re not kidding. China is on a mission:

“[I]nstead of purchasing US paper, Beijing continues to buy non-US gold, in the form of 68 tons in imports from Hong Kong in the month of June. The year to date total (6 months)? 383 tons,” the Hedge reports.

“In other words, in half a year China, whose official total tally is still a massively underrepresented 1054 tons, has imported more gold than the official gold reserves of Portugal, Venezuela, Saudi Arabia, the UK, and so on, and whose YTD [Year to Date] imports alone make it the 14th largest holder of gold in the world,” the report adds.

“[T]he moment the PBOC [People’s Bank of China] does announce its official updated gold stash, a gold price in the mid-$1000 range will be a long gone memory,” Hedge adds ominously.

Let’s do a quick recap, shall we?

1. Has China been selling off its stake in U.S. Treasurys? Yes.

2. Has China been importing hundreds of tons of gold? Yes.

3. Has China been buying and developing large portions of land in Africa? Yes and yes.

4. Are both land and gold considered safe haven investments during times of economic and social unrest? Yes and yes.

If China’s actions are any indication of what lies ahead, is it safe to assume things are going to get really interesting, really fast?

Full article: Hoarders: China Has Imported 383 Tons of Gold in the Last 6 Months (The Blaze)