Gold Stats and Chart

I’m talking to Al Korelin at 2:00; I assume it’s about gold.  I put a lot of stuff together but then the web ate my blog post.  Thanks, Wordpress!  Anyway, here are the highlights …

First, a chart of the amount of gold flowing into gold ETFs over the last year.  It’s just gi-normous.

Then, a few stats …

• The world’s largest gold-backed exchange-traded fund, the SPDR Gold Trust GLD, hit a record of 1,124.99 tonnes on March 25.
• The International Monetary Fund is talking about setting up a special currency to deal wih the global financial crisis. Russia wants that currency to include the ruble (rouble), the Chinese yuan, and gold.
• Market analysts think that total sales from major central banks such as France and Switzerland will decline again this year. One estimate projects sales could tumble to their lowest level in at least a decade.
• India, usually the world’s biggest consumer of gold, is probably turning into a net exporter because so many Indians are selling their gold to cash in on high prices.

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