Weird that no major media, blog – even GATA, reported about Aug 2010 gold imports for Bank Of Thailand – especially after huge media exposure of July 2010 numbers.
With Thailand’s central bank still having around $100 billion of foreign reserves in USD and their policy to switch USD into physical gold, this is one of the big gold players in the market.
Yearly gold mining production: around 65 million ounces, valued at around $85 billion (if taken gold price of $1,300 per ounce).
This shows what a big gold player Bank Of Thailand is, since they are making concrete steps in transfering portion of their $100 billion into physical gold.
Now, onto reporting of their Aug 2010 gold imports…
Read the rest at
Disclosure: Long the physical.