Gold Buying by Central Banks Signals Sell as Past Haunts Future

This is late in the game to be buying gold,” said Peter Morici, a professor of business at the University of Maryland in College Park and former economic adviser to the U.S. government. “Central banks are not known for their investment acumen. What it reflects is a lack of confidence in the U.S. economy and the long-term durability of the dollar as a store of value.

Late in the game? Funny how these types of stories suddenly appear during a take-downs to maximize fear. Fear is only an effective tool to shake out the weak hands.

Source: http://www.bloomberg.com/apps/news?pid=20601087&sid=arhlK7_y34Mg&pos=5