India to Buy IMF Gold

Discussion in 'Economics' started by Sisko7, Feb 26, 2010.

  1. Sisko7


    I hope they check for salted "tungsten" bars before they buy.

    India’s central bank, which has increased its gold holdings to diversify its reserves, looks set to be a buyer again when the IMF begins selling 191.3 tonnes of the precious metal amid volatility in major currencies. Gold prices climbed steadily late last year to touch an all-time high of $1,226.10 an ounce on December 3 after the RBI announced in November it had purchased 200 tonnes of IMF gold.

  2. Sisko7


    I'll be honest I am very bullish gold long term.

    Not GLD and the likes but the heavy physical metal :)
  3. this means gold is going to crash
  4. Waiting


    short term it'll drop 100 points

    long term it'll jump 600 points

    I don't care what you think

    USA is broke

    UK is broke

    everyone is freaken broke !!!!!!!!!!!!!!!!!!!!
  5. Somebody has to be "The Fool" at the top of the market. It may as well be them. :D
  6. if you believe everyone is broke all the governments get a gun forget GOLD.
  7. The world has gotten more crowded. The current fiat monetary system allowed some nations to unsustainably overconsume at the expense of other nations which are now economic powers to be taken seriously.

    When this system finally collapses:

    No nation will allow another to hold the sole reserve status anymore - the inflationary shifting costs are too high for many, and the benefits only go to a few.

    Gold will be the ultimate currency.

    Gold may not necessarily become directly the medium of exchange, but it will become the best long term store of value.

    As opposed to fiat money, bonds, corporations and nations, Gold is not infinitely expandable, it never defaults, and never becomes insolvent.
  8. In the past Silver more than gold was a more accessible form of currency, for exmaple 200-300 yrs ago when europe bought all tis fgoods from imperial china, the chinese demanded the europeans pay with silver
  9. That may be so, but it's neither your decision or mine to make.

    Ask the central banks of the world how much silver they have. That decision has been made.
    #10     Feb 26, 2010