IMF to buy 2+ Billion in Gold.

pmbug

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Somehow, I doubt the IMF is buying physical, allocated gold. More paper claims to (re-)hypothecated gold would be my guess.
 

bushi

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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.
 

mike

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The University of Texas bought $1 billion in gold not long ago, and UT is not even a bank.
 

pmbug

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Well, the story didn't make any sense to me on first read, so I can't say I'm terribly surprised.
 

ancona

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Imagine that! A bogus, completely unresearched and uncorraborated story about a non-event by the largest NGO in the world. Who would have 'thunk it?
 

the sugar monster

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So that means when the correction article comes out tomorrow, Gold is due for a drop like a rock, yes?

:popcorn:

This is of course sarcasm. As if supply and demand had anything to do with the PM markets these days-Lol.
 
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