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MEXICO CITY (AP) -- Mexico's central bank says it has bought about 100 tons of gold in recent months, equivalent to about 4 percent of the bank's international reserves.
The Bank of Mexico's latest report says those reserves stood at about $131.3 billion at the end of April. That means it purchased gold worth about $5.2 billion.
The bank says the purchases are part of its long-standing system of investment and asset diversification.
In recent years Mexico has pursued a policy of steadily increasing its holdings of foreign reserves.
Originally posted by neo96
the gold rush is nothing but another bubble waiting to burst.
Originally posted by Rigel Kent
Originally posted by neo96
the gold rush is nothing but another bubble waiting to burst.
Do you understand what is happening to the USD and how the economy is destined for very high inflation due to the defecit and Bernankes Quantitive Easing (dollar printing) Philosophy? How do you think this will affect the price of gold? Do you realize that gold has been oversold on paper by as muxch as 100 X ? Do you know that Fort Knox is quite possibly empty or contains gold plated tungsten bars?
Please can you give us more info on how this gold bubble thingy is going to play out.
In addition to Mexico....... China, Russia and Thailand central banks have increased their gold holdings in recent weeks. It is not Gold that has been in a bubble but the USD and now the bubble is slowly deflating....
PEACE,
RK
Originally posted by guessing
reply to post by NE1911
Your opinions may require re-calibration.
i would asume you have no gold then..
oh and what about protection from gamma rays?
worthless.... not....