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Country
1000+ Penny Miser Member
USA
3121 Posts |
 Posted - 11/14/2009 : 19:31:48
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The R.B.I. will buy more “if it [the I.M.F.] offers to sell the gold”. So, either the I.M.F. is selling the gold in chunks [and not the whole amount to anybody], perhaps offering it to a few central banks. Hence, the Reserve Bank of India is waiting to see it the offers to others are taken up. If they are not then it will pick up the refused amount. Perhaps they will take the entire 403.3 tonnes.
Any concurrent/consequential sales being made by the I.M.F. are likely to be announced very soon.
The shape of market demand will and is already broadening to include major institutions. Their appetite has a huge capacity, so traditional gold demand may well be pushed to one side as they buy what they want.
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India, a new announcement due!
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