At $1500/troy ounce, 1 metric ton of gold is worth $48.225
million.
Cyprus was talking about selling approx $500m worth of
"excess reserves" of gold. That is a bit over 10 t.
That could make sense, as Cyprus has approx 14 t of
gold reserves.
This was a 400 t sell order according to Mr. Grubb.
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could it be cyprus selling 400t of gold?
WGC comment
Posted by 8899 on 16th of Apr 2013 at 06:36 am
At $1500/troy ounce, 1 metric
Posted by johan on 16th of Apr 2013 at 06:56 am
At $1500/troy ounce, 1 metric ton of gold is worth $48.225 million.
Cyprus was talking about selling approx $500m worth of "excess reserves" of gold. That is a bit over 10 t. That could make sense, as Cyprus has approx 14 t of gold reserves.
This was a 400 t sell order according to Mr. Grubb.