... IMF gold sold, and hardly a dent in the price. India Buys IMF Gold to Boost Reserves as Dollar Drops By Thomas ... to 8 percent of world annual mine production, was the IMF’s first such sale in nine years and propels India to the ninth-biggest government ... be pushing all the central banks to strengthen their portfolio with gold,” said N.R. Bhanumurthy, professor at the National Institute ...

... . “I would have advised the governor of RBI to buy gold as our forex reserve is comfortable. The RBI has done just that. That doesn’t mean ... the IMF directly. “It makes sense to buy gold as it will appreciate more than the U.S. dollar,” he said. The purchase of nearly half of ... the IMF gold may eventually reach the open market, limiting any bearish impact such a big sale may ...

... have taken care of three weeks' of imports) and had to pledge gold with the International Monetary Fund to get a loan to get out of the crisis. Today, ... of its total holdings. India and China were seen as the likely buyers the IMF gold, given the two Asian giants' economic strength ... the remaining 203.3 tonnes of gold on tap for sale. For long, China has been slowly but steadily building up ...

... China at the post to walk away with 200 tonnes of IMF gold. Granted, India had to pay US$6.8 ... China has this one in the bag. Not so! Something more than meets the eye is going on here. The IMF sale was part of a plan to unload 403.3 ... price and kept it in check. The European CBs either felt like they had too much gold doing too little work on the balance sheet. Or, they were manipulating the price ...

... gold prices rise, the less likely China will be interested in IMF gold, in our view, and the less likely the remainder of the sales will be completed 'off- ... 2009-10," they wrote. "Nevertheless, given the reduced IMF overhang and continuing fiscal and monetary stimulus ... ." The analysts also wrote that the India sale is a sign that gold's near-term direction seems to be " ...

... On September 18, 2009, the IMF Executive Board approved the sale of 403.3 metric tons of gold (12.97 million ounces), which amounts to one-eighth ... gold. As you know, the IMF sold 200 tonnes of this gold to the Reserve Bank of India and announced the sale ... leaves 203.3 tonnes still available to the IMF members. When the sale was announced I, and I believe most folks interested in these things, ...