The IMF announcement yesterday that it had sold virtually half of its planned 403.3 tonnes of gold, destined to increase its resources for lending to low-income countries, to India came as something of a surprise to the market. Not perhaps that a Central Bank had made the purchase, but the hard money had been on China to do so, not India.
Indeed, the market seemed, in retrospect, little affected by the news of the sale, which apparently involved daily sales that were phased over a two week period during October 19-30, with each daily sale conducted…
Indeed, the market seemed, in retrospect, little affected by the news of the sale, which apparently involved daily sales that were phased over a two week period during October 19-30, with each daily sale conducted…
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