SPDBRNR – Eyes Wide Open
Sports, Politics, Financial Markets, Silver & More

IMF Gold for Sale? India Buys Half

For months we’ve heard about the IMF and their plan to sell 403 tons of gold to help fund their daily operations and programs…well India today announced it bought almost half, and you can be sure that China would love to buy the other half.  What’s interesting is that China wasn’t the first announced buyer…were they stubbornly waiting for a bigger dip?  Was it planned this way?  I can assure you that if it’s not China buying all or at least most of the remaining 203 tons, the markets will be surprised. 

As it is, gold popped to a new record close on the news, $1,084/oz., and is currently trading there now in the Asian markets (Tues night 11/3/09 9:30 PST).  Silver is lagging, currently $17.21, not even reaching its 2 week old highs of $18, let alone the 19 month highs over $20.  Bargain, bargain, bargain….get some cheap!!!!


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