Somehow, I doubt the IMF is buying physical, allocated gold. More paper claims to (re-)hypothecated gold would be my guess.
...either way - it is telling... both about the supposed "TRADITION", and also their stupidity - if they are only buying paper... I'd like to see them trying to convince Chinese to accept some of that nice papers in exchange for their exports, in the near-mid term future!
....but, but, but - the gold is DOWN, yet again :flail: :rotflmbo:
I couldn't be a trader, I am not idiot enough to latch on the mass-stupidity of the market! It is either that, or as swissaustrian pointed out - the liquidity is drying up in the markets, so it is "sell everything we can, for whatever price" (this including PMs) - that would mean the repeat of 2008 is near.