Serving the Ramtha School of Enlightenment
International Community of Students and Friends.
We are the Official Lodging & Airport Service Page for RSE!

Lofty Thought of the Day

"To break free is to go beyond into the unknown that is speculative, conjecture, uncertain. And out there, entity, you have all the freedom to take for the first time in your existence your own God-given brilliance that you certainly are and apply it in a way that you deliver yourself from the enslavement of someone else's ideals and create your own." -Ramtha
Copyright © JZ Knight. Ramtha® is a registered trademark of JZ Knight. Used with permission.
  • Print

Gold hits US$1,190 as more central banks buy

Category: Articles
by Frank Tang and Jan Harvey, Reuters -FinancialPost.com - Wednesday, November 25, 2009 NEW YORK/LONDON -- Gold prices hit record highs above US$1,190 an ounce Wednesday as the dollar fell sharply and the market expected central banks from emerging economies to keep buying bullion from the International Monetary Fund.

Gold prices have risen nearly 15% since the beginning of November, on a combination of central bank interest to diversify into the metal, a steadily falling U.S. dollar and inflation worries.

Late on Wednesday, the IMF said it had sold 10 tons of gold to the Central Bank of Sri Lanka.

"We have had relatively supportive news from the central banks, particularly in Asia, confirming that there is demand for gold as a means of diversifying their large foreign exchange reserves," RBS Global Banking & Markets analyst Daniel Major said.

"There is plenty more potential for central banks to buy either IMF gold or other gold in the market to try and boost their reserves," he added.

Investor sentiment was bullish, highlighted by the news that the U.S. Mint said it was suspending sales of the popular American Eagle one-ounce gold bullion coins due to strong demand...MORE...

Read Complete Story Here