New gold will be supplied as early as the end of October
The gold bullions have run out. Only for a month the Bulgarians have emptied the vaults of banks and exchanges. Only the small bullions of 1 to 10 gr. are left. Gold's turnover in August was six times higher than it was in August last year, said Valentina Grigorova, head of Gold and Numismatics Department in First Investment Bank. We have no bullions left, only coins, explained Tavex Gold Exchange chair, Blagovest Belev. The exchange has concluded twice as many deals for a month, the company reported. The supply of new amounts of gold is extremely difficult because the refineries cannot manage to process the demanded quantities of gold in due time, experts explained.A new supply of gold from the refinery in Switzerland is expected as early as the end of October.
Yuliana Uzanicheva
While the below is a chart of Bulgaria's central bank reserves, it does present a peculiar picture of stagnation which has never appeared since 1890. All individual central bank reserves for each country can be seen here. Canada is especially fascinating having only 3.4 tons in reserve since 2003! If their intention is to replenish those reserves through their own Canadian-domiciled mines, will the government pay world 'market prices'?
Canada, being the world's 8th largest gold producer with 95T annually, begs the question will that gold still come onto the world market, or shall the Canadian government (bank cartel) claim 1st dibs? Isn't that was South Africa does? I'm not sure about China, but if it's not yet the "broker" for its domestic gold and silver mines, I contend it will be.
Each country can be viewed here.
