GOLD is the money of the KINGS, SILVER is the money of the GENTLEMEN, BARTER is the money of the PEASANTS, but DEBT is the money of the SLAVES!!!

Tuesday, August 2, 2011

South Korea central bank stocks up on Gold

South Korea has spent more than a billion dollars in gold: the first acquisition in over a decade, justified by uncertainty about global growth and problems related to the sovereign debt of various countries that led the central banks to diversify their reserves in order to protect themselves from market volatility.

The central bank of South Korea announced the move in a statement which says that the central bank has bought 25 tons of gold bullion over the past two months, bringing the total to 39.4 tons of gold reserves. The news helped boost the price of gold which has now reached a new record of $1660/oz

Related ETFs : Ishares Silver ETF (SLV), SPDR GOld ETF (GLD) SPDR GOld ETF (GLD), Powershares DB SPDR Gold ETF (GLD), Newmont Mining (NEM), Barrick Gold (ABX), GoldCorp (GG)

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