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India, China, Russia and Some EU Central Banks Buying Gold

Posted By admin On November 3, 2009 @ 5:26 am In Money Watch | Comments Disabled

Washington’s Blog [1]
Tuesday, Nov 3rd, 2009

India’s central bank is buying [2] 200 metric tons of gold from the IMF.

China, Russia and some EU central banks have also expressed interest [3] in buying gold from the IMF or elsewhere.

Therefore, Bloomberg’s article [4] of today saying that “Central Banks Will Become Net Buyers of Gold, WGC CEO Says” is not controversial.

Given that the IMF has only authorized [5] the sale of 403.3 metric tons of gold at this time, the IMFs sales won’t drive gold prices down. Indeed, the other 203.3 metric tons should go pretty quickly, and there will almost certainly be left over demand from the world’s central banks. Remember, China itself previously considered purchasing [6] the entire 403.3 metric tons.

For the big picture on gold, see this [7].

“When the people find they can vote themselves money, that will herald the end of the republic.”Fall Of The RepublicBuy the DVD here [8]


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URL to article: http://www.prisonplanet.com/india-china-russia-and-some-eu-central-banks-buying-gold.html

URLs in this post:

[1] Washington’s Blog: http://georgewashington2.blogspot.com/

[2] buying: http://www.imf.org/external/np/sec/pr/2009/pr09381.htm

[3] expressed interest: http://www.livemint.com/2009/11/02231541/RBI-to-buy-200-tonnes-of-IMF-g.html

[4] article: http://www.bloomberg.com/apps/news?pid=20601012&sid=agl8iwWuXS_k

[5] authorized: http://www.imf.org/External/NP/EXR/faq/goldfaqs.htm

[6] considered purchasing: http://news.alibaba.com/article/detail/business-in-china/100175429-1-china-mulls-buying-imf-gold.html

[7] this: http://www.washingtonsblog.com/2009/10/gold-big-picture.html

[8] Buy the DVD here: http://infowars-shop.stores.yahoo.net/faofreprofba.html

[9] Roubini: Reduced Selling of Gold by Central Banks Should Support Gold Prices: http://www.prisonplanet.com/roubini-reduced-selling-of-gold-by-central-banks-should-support-gold-prices.html

[10] Europe Central Banks Agree to Third Cap on Gold Sales: http://www.prisonplanet.com/europe-central-banks-agree-to-third-cap-on-gold-sales.html

[11] Central Banks Dumping Gold At A Torrid Pace: http://www.prisonplanet.com/central-banks-dumping-gold-at-a-torrid-pace.html

[12] Gold To Top $2,000 On Central Bank Buying: Bloomberg Chart Of The Day: http://www.prisonplanet.com/gold-to-top-2000-on-central-bank-buying-bloomberg-chart-of-the-day.html

[13] Central Banks Buy the Most Gold Since 1964: http://www.prisonplanet.com/central-banks-buy-the-most-gold-since-1964.html

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