India buying IMF gold

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Tue, Nov 3, 2009

Gold Market News
Post by Melissa Pistilli, Gold Reporter

The Reserve Bank of India (RBI) has bought 200 tonnes of old from the International Monetary fund for $6.7 billion. India’s holding on gold amongst central banks would be increased as a result of the deal.

The news article is quoted as saying:

Analysts say one of the reasons why the RBI was buying gold from the IMF was to shore up its gold holdings.

Click here to access the entire press release

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