DiggerUK

Why the IMF's Indian Gold Sale Matters

Seeking Alpha is trotting out articles on the IMF sale to India at a rate of knots, all of them failing to answer one question.
By what process was it decided that India gets 200 tonnes?
Dying to know the answer to that one.
(Hillary Clinton been sticking her oar in round the back somewhere ? Who knows.)

"I always thought that some of it would be sold off-market, but it was a bit of a surprise that as much as 200 tons had been sold off-market," Bank of Nova Scotia director of precious metals sales Simon Weeks told Reuters.
And this is someone who works for a bank that does the London Gold Fix twice a day.
www.lbma.org.uk/assocn...

Place your bets on who gets the rest.
Japan? Brazil? Mexico? Saudi? Australia? Iceland?

India's Gold Grab Boosts Metal's Price

After years of never having the manipulation theory put to a real test, the much talked over IMF gold sales begin.
The first half goes to India, and the price of gold rises.

Be interesting to know who gets the second half of the gold tranche.
Japan ? Saudi ? Australia ? Brazil ? Iceland ?

GATA headquarters must look like the HQ of the party that just lost the election when the final vote has been counted on election night.
Today was the day manipulation theorists lost the argument for good.

Gold Soars to New Highs

Bespoke Investment Group underplays the dimwits, goldbugs and Gatagoons when they claim that the only comments raised were along the lines of :-
" raising speculation that the planned sale would cause a glut of gold in the market."

They were hysterical in their assertions that the gold price would be collapsed by "manipulation" and have been claiming so for a number of years now.
Well, I'm listening very, very hard, and can't hear a sound from them now.

Can't wait for the rest to be flogged off. Maybe we will get another press statement off the IMF manana.
Maybe it's been sold?

India Gold Buy Sets Record

People have been squawking about IMF gold sales "manipulating" the price of gold down, for as long as any of us can remember. Well, now the first tranche has been sold, and the p.o.g. has gone....hmmm, can't get my Kitco chart to work.

It was argued by many, that it was a non story for a quiet day in the news room. And guess what. They haven't got a story for quiet days in the news room anymore.

Ah well, back to shape shifting lizard stories then.

IMF Sells 200 Tonnes of Gold to India for $6.7 Billion

The supporters of manipulation and conspiracy theories, who have been claiming IMF gold sales would lower the pog, seem to be very quiet.

Can we now get back to the serious business of good old fashioned c0ckup and beer.

Who is going to get the next tranche of gold.
Japan? Australia? Saudi? Brazil? Iceland?
Place your bets now ladies an gentlemen.

New Central Bank Gold Agreement Cuts Back on Sales

It may be a coincidence that the reduction of future gold sales from ECB of 500 tonnes, is close to the 403 tonnes of IMF proposed sales.
It could just be coincidence, or my suspicious mind at work.

I'm wondering what Hilary Clinton really discussed with the Chinese over her green tea and fortune cookies.
Perhaps a deal to help them with the small problem of dumping some of their dollar reserves, without harming the dollar, or am I just a cynical old bird?

Gold Prices: Little Correlation with Its Utility

You seem perplexed why people invest in gold when a 2/3 of it is used in jewelry.
What you fail to understand is that in many areas of the world you can only hold gold in the form of jewelry. When you buy the jewelry it is by weight that you pay.
This is how they store their savings with confidence.
It's utility is as a store of value, just like your silver.

As Good as Gold?

Your arguments are fraudulent. Cheap lawyers would be embarrassed at your spin.
Gold, like everything else, needs to be bought and sold at the right time.
Anybody who bought gold in 1998 would have paid $314.60 tops.Now do your figures.
Your 1980 figures don't show that March 17th that year was bottom price at $480.00. Compare to Mar 17th this year and do your sums.
Prices in 2007 went from $836.50 to $608.30.
Those who traded tulip bulbs at the right time in the 17c made money.

Peter Schiff: Outlook for the Gold Market

"Commodities of Mass Destruction" that's a new one on me.
Love the irony in your comment, shame you haven't been keeping up on current affairs following the stunning victory in Iraq !


On Dec 22 08:36 PM leemajors1964 wrote:

> I don't beleive the dollar will be allowed to collapse. The Japanese,
> Chinese and OPEC are expected to tow the line. I am sure the aggreement
> with them is well understood. Contrary to what the austrians think
> the dollar is backed by hard assets-- lead, uranium and plutonium.