4 Nov. The IMF gold 200 tonnes of it went to the Indian central bank despite the Chinese offer to buy it. Who bought the the other 203 tonnes? No doubt the Chinese will keep buying on market. Would that mean the price must go higher to US$1200 per oz or is the market flooded? Now piece that with Warren Buffett’s bet on the US economy recovering quickly by buying a huge railroad based in Texas.
If Buffett is right the US dollar appreciates as the US economy comes good then Professor Roubini’s prediction that the international carry trade & its asset bubble borrowing USdollars to buy assets shall crash with some considerable havoc. Interesting times are not over! Never dull is it?
And from Europe: “But the surge in gold prices may be a thing of the past soon. Gold prices are set to fall to $800 or below $800 levels thanks to the decision of the G-20 countries allowing the International Monetary Fund (IMF) to sell 400 tons of gold reserves in the open market to raise funds for its global projects. ‘ – Commodity Online.
”Gold prices are set for a big fall in the next two to six months mainly because of the IMF gold sale. There will be abundant supply of gold in the market in the coming months thanks to the release of 403 tons of IMF gold. Moreover, with stock markets looking up after the big falls, gold prices are likely to fall to $800 or below $800 levels,” bullion analyst Mark Robinson told Commodity Online.
