03 November 2009
The International Monetary Fund announced today the sale of 200 metric tons (440,924 pounds) of gold to the Reserve Bank of India.
The transaction, which is in the process of being settled...total sales proceeds are equivalent to US $6.7 billion or SDR 4.2 billion. ~ imf press release
He contrasted India’s strength with weakness elsewhere: “Europe collapsed and North America collapsed.”
The purchase by New Delhi’s Reserve Bank from the International Monetary Fund pushed gold prices to a record $1,086.10 per troy ounce, up 2.6 per cent on the day, as traders bet that other central banks would also become buyers.~ financial times gold hits record high on india purchase
Posted by wst... at 21:08