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Tiny Mauritius Tells US To Shove Its Dollar, Buys 2 Metric Tons Of Gold From IMF At $1,115 An Ounce

Posted By admin On November 17, 2009 @ 4:57 am In Money Watch | Comments Disabled

Tyler Durden
Zero Hedge [1]
Tuesday, Nov 17th, 2009

The latest development in the gold bubble saga, and one which will likely cause the precious metal’s price to spike even higher, comes from the tiny island of Mauritius which according to Dow Jones has purchased 2 metric tons of Gold from the IMF for $71.7 million. The price works out to approximately $1,115 per ounce. More as we get it. (and yes, this is a picture of Mauritius not some CNBC anchor hangout).

Some more from Dow Jones:

 

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The International Monetary Fund announced Monday it has sold two tons of gold to the central bank of the Indian Ocean island of Mauritius for nearly $72 million.

The sale came as gold prices surged Monday to an all-time high of $1,136.72 per ounce.

The sale to Mauritius “was conducted on the basis of market prices prevailing on November 11, 2009 with proceeds equivalent to U.S. 71.7 million dollars,” the IMF said in a statement.

It was the second such sale by the fund since September, when its executive board authorized the sale of 403.3 tons of gold from its holdings to bolster its finances amid the global economic crisis.

On Nov. 2 it sold 200 tons of gold to the central bank of India for $6.7 billion.

Tiny Mauritius Tells US To Shove Its Dollar, Buys 2 Metric Tons Of Gold From IMF At $1,115 An Ounce 071009banner3 [2]

The IMF said it would sell gold directly to central banks and other official holders for an initial period before selling the remaining amount on the open markets “in a phased manner over time.”

The Washington-based IMF, which currently holds just over 3,000 tons of gold, is the third-largest official holder of the precious metal after the U.S. and Germany

“When the people find they can vote themselves money, that will herald the end of the republic.”Fall Of The RepublicBuy the DVD here [3]

Tiny Mauritius Tells US To Shove Its Dollar, Buys 2 Metric Tons Of Gold From IMF At $1,115 An Ounce FOTR 340x1692 [3] 

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URLs in this post:

[1] Zero Hedge: http://www.zerohedge.com/article/tiny-mauritius-tells-us-shove-its-dollar-buys-2-metric-tons-gold-imf-1115-ounce

[2] Image: http://www.efoodsdirect.com/gmoPeople.html?aid=14&adid=12

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

[4] Gold Tumbles As IMF Reaffirms Plan To Sell 191.3 Metric Tons Of Gold Over Time in Phased “On-Market” Gold Sales: http://www.prisonplanet.com/gold-tumbles-as-imf-reaffirms-plan-to-sell-191-3-metric-tons-of-gold-over-time-in-phased-on-market-gold-sales.html

[5] IMF Resumes Direct Gold Dumping, Sells 10 Tons Of The Shiny Metal To Bangladesh: http://www.prisonplanet.com/imf-resumes-direct-gold-dumping-sells-10-tons-of-the-shiny-metal-to-bangladesh.html

[6] Russian Central Bank Buys 100 Tons of Gold: http://www.prisonplanet.com/russian-central-bank-buys-100-tons-of-gold.html

[7] Gaddafi regime sold 29 tons of gold: http://www.prisonplanet.com/gaddafi-regime-sold-29-tons-of-gold.html

[8] 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

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