India Buys 200 T. Gold from IMF

[Retired Commish]

Surprise is how quietly this took place and how China wasn't the recipient of IMF sale. Dozens of articles in the recent past have provided reasons on why China wishes to diversify their reserves. India has never even been mentioned to my knowledge.
Maybe there are some politics involved. Was this a favor to India for some help they're providing in Afganistan?
http://news.goldseek.com/PeterCooper/1257256800.php

[LargoWinch]

Re: India Buys 200 T. Gold from IMF

Surprise is how quietly this took place and how China wasn't the recipient of IMF sale. Dozens of articles in the recent past have provided reasons on why China wishes to diversify their reserves. India has never even been mentioned to my knowledge.
Maybe there are some politics involved. Was this a favor to India for some help they're providing in Afganistan?
http://news.goldseek.com/PeterCooper/1257256800.php

The Russians are also buying ICE:

MOSCOW, Nov 23 (Reuters) - Russia's central bank gold stocks rose by 0.5 million ounces (15.6 tonnes) or by 2.6 percent in October to 19.5 billion ounces (606.5 tonnes), data on the bank's web site www.cbr.ru showed.

Russia's central bank has said it aims to increase gold's share in its reserves this year [ID:nLG124285] to keep its investments diverse. The metal is also seen as a safe-haven at times of financial market turbulence and economic crisis -- a status which has helped send the price of gold XAU= to record highs this year. [ID:nGEE5AM0FB]

The web site said the total value of gold in the bank's stocks rose to $20.4 billion at Nov. 1 from $18.8 billion a month earlier. Gold made up 4.7 percent of Russia's total gold and foreign exchange reserves -- the world's third largest -- which stood at $434.43 billion at the start of November.

...

Article here.