Austrian central bank won't answer questions about its exec's remark on gold intervention

5:37p CT Wednesday, October 28, 2015

Dear Friend of GATA and Gold:

Freelance financial journalist Lars Schall reports today that the Austrian central bank has refused to answer his questions about the assertion last week by the bank's executive director, Peter Mooslechner, that Asian central banks are using their gold reserves to intervene secretly in the gold and currency markets, an assertion reported to you here:

http://www.gata.org/node/15878

Schall writes that he received today the following reply from the head of the Austrian central bank's press office, Christian Gutlederer: "Sorry, we are not going to answer your questions. We never comment on our investment strategy and trading."

Schall's updating on the issue is posted at his Internet site here:

http://www.larsschall.com/2015/10/27/again-and-again-no-answers-from-cen...

Schall had sent these questions to Mooslechner:

-- Can you elaborate on the trading of gold by central banks and their use of gold for market intervention?

-- Exactly which central banks are doing this trading and intervention, what are its purposes, objectives, and results, and what markets are involved?

-- Are this trading and intervention public and announced or are they secret and surreptitious?

-- Are this trading and intervention undertaken directly by central banks or through intermediaries?

-- If this trading and intervention are undertaken through intermediaries, who are they?

-- Should markets and citizens generally have the right to know about this trading and intervention?

-- And how do you know about it, Herr Mooslechner?

Schall did not ask the Austrian central bank to "comment on our investment strategy and trading."

CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
CPowell@GATA.org