61. The Swiss announcement came amid speculation that central banks worldwide either want to lend or sell their gold to generate returns on their assets. 62. The Swiss National Bank announced its plan to sell gold last week. 63. The Swiss central bank could begin selling gold as early as next year. 64. Under the plan, the company sells its gold at a fixed price for delivery in the future to investors who speculate on day-to-day swings in the price. 65. When shorting, an investor sells borrowed gold in hopes that the price will fall and he can buy it back at a lower price and profit. 66. While Germany long has opposed selling its reserves and Waigel denied the Bundesbank would sell any gold, concern persists that such sales are possible. 67. People can either donate or sell their gold. 68. And investors who had sold gold ahead of the Swiss central bank sales that began this week returned to the metal, encouraged by positive early sale results. 69. Argentina, Luxembourg and Australia have also sold gold, and Switzerland says it is considering disposing of some of its gold. 70. By law, all miners must sell their gold to the Central Bank and pay taxes on their earnings. |