Super rich are buying gold by the ton

[TimberWolf]

The fact that central banks have all but stopped selling is probably responsible for a fair chunk of the recent appreciation.

What are they going to do with their gold if not hoard it, buy worthless fiat currency?

But it's an interesting point for when they do start selling again, when or if fiat ever regains its value, on the effect it would have on gold prices.

[doodab]

Did they manage to match Gordon's timing and sell it all in one lump at the lowest possible price, and advertise that they intended to sell it off before hand, just to lower the market price that bit more?

The Swiss announced in advance they were going to sell 1300 tonnes or so over 5 years, and they started around the turn of the century, about the same time that Gordon was shifting ours. They got an average price of around $350 an ounce as opposed to Gordon's $275 or so. So in terms of "lost money" when the gold price went up to $1000 an ounce they missed out on about $27bn.

http://www.bis.org/review/r050509b.pdf

http://www.hm-treasury.gov.uk/d/foi_..._1999-2002.pdf

[AtW]

Lay your dirty hands of Hounourable MP Brown - Gold right now is worth exactly as much as it did when he sold it, it's just the sterling that lost a lot against gold...

[AtW]

The Swiss announced in advance they were going to sell 1300 tonnes or so over 5 years

The difference is that the Swiss most likely sold the gold to people who keep cash there in the first place and who most certianly opted to keep gold in the same country, so in effect Swiss Govt got cash for asset that they can take at any time should that become necessary...