Wednesday, November 25, 2009

Bernake Got Punk'd Again! India Pursuing a Bid for Remainder of IMF Gold

Author: Tyler Durden at Zero Hedge
$1,200 here we come. Bernanke just got punk'd. Again. From the Financial Chronicle of India:
India is open to buying more gold from the International Monetary Fund (IMF). It bought 200 tonnes for $6.7 billion on November 3. The Reserve Bank of India (RBI) may well buy IMF’s remaining hoard of 201.3 tonnes on acceptable terms, which are now under negotiation.
A government official said that the additional purchase would depend on the “successful pitching by RBI”. “RBI is an independent body, and the government does not interfere in its affairs. It will get the gold if its bid is successful and at the price it has offered,” said the official.

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