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Number 11 with a bullet
Tuesday, November 03, 2009
Here's what the most recent World Official Gold Holdings from the World Gold Council look like with the transfer of 200 tonnes of the yellow metal from the IMF to India.
Hopefully, they're taking delivery of the stuff rather than trusting that gold held in New York vaults will be transferred to their account or somesuch.
3 comments:
India buying old is like US buying gold. They have twin deficits. Why is everyone celebrating. To me this indicates that we are getting much closer to the top of the market.
I thought the IMF sales were supposed to drop gold prices?
Roubini has called a bubble with gold and oil. He didn't say how far gold will drop. My guess it will drop to $700 an ounce from an all time high of $1400.
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