Originally Posted by baja
Thank you for this Wags.
I have been looking for information on the Fed's gold purchases.
Note the only time the Fed bought gold was the last three years, massively increasing their purchases in the last two years.Not only that the chart shows the fed selling gold all the previous years on the chart.
The chart also shows gold purchases for investment is strong and steady.
It looks like the fed is trying to drive down the gold price.
Baja, where do you get this?? If the Fed were buying
, gold would be increasing in value, not dropping.
The 'Central banks' in the chart are mostly eastern European, Turkey and Russian CBs replenishing their gold reserves. Typically, they are sellers, not buyers.
By the look of their timing, they screwed up. They were buying when gold was $1600+ an ounce.