| Author | Topic: IMF sells India 200 tonnes of Gold for $6.7bn |
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new_method | 11/3/2009 12:06:45 PM  Locked Thread
The gold price hit a fresh record high on Tuesday after India agreed to buy 200 tonnes of bullion from the International Monetary Fund and traders speculated that there would be further purchases by emerging economies.
The sale, for about $6.7bn, accounts for half of the IMF’s expected disposal of gold and signals a growing appetite among developing countries’ central banks for bullion in the wake of the global economic and financial crisis, said analysts.
The move comes after China earlier this year revealed that it had quietly almost doubled its gold reserves to become the world’s fifth-biggest holder of the precious metal.
FT.com |
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CAblingbling | 11/3/2009 12:07:55 PMLocked Thread
You realize that this is normal activity, right? I laid out for you why a few months ago and told you that this exact scenario would be taking place. |
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new_method | 11/3/2009 12:18:50 PMLocked Thread
CAblingbling quote:
You realize that this is normal activity, right? I laid out for you why a few months ago and told you that this exact scenario would be taking place.
Yeah but this shows that Large buyers are willing to accept the current price levels of Gold, which kinda removes some of the uncertainty of its direction presently. |
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CAblingbling | 11/3/2009 12:34:21 PMLocked Thread
new_method quote:
Yeah but this shows that Large buyers are willing to accept the current price levels of Gold, which kinda removes some of the uncertainty of its direction presently.
Oh my God. You're giving me a headache. |
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new_method | 11/3/2009 12:47:51 PMLocked Thread
CAblingbling quote:
Oh my God. You're giving me a headache.
Ha I am not arguing with you but just simply adding that this can be considered 'good news' for Gold. |
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CAblingbling | 11/3/2009 1:18:53 PMLocked Thread
new_method quote:
Ha I am not arguing with you but just simply adding that this can be considered 'good news' for Gold.
I know you're not arguing with me...and you're still giving me a headache.  |
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JuanDC | 11/6/2009 1:25:55 AMLocked Thread
new_method quote:
Yeah but this shows that Large buyers are willing to accept the current price levels of Gold, which kinda removes some of the uncertainty of its direction presently.
They accept it because it is a hedge in times of crisis.
Basic portfolio management. |
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new_method | 11/6/2009 2:20:29 AMLocked Thread
JuanDC quote:
They accept it because it is a hedge in times of crisis.
Basic portfolio management.
Yea I know. I am explaining something else though. The Trader/Market angle. |
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CAblingbling | 11/6/2009 10:37:25 AMLocked Thread
new_method quote:
Yea I know. I am explaining something else though. The Trader/Market angle.
Got that Juan? Its the 'trader/market' angle. |
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new_method | 11/6/2009 10:40:46 AMLocked Thread
CAblingbling quote:
Got that Juan? Its the 'trader/market' angle.
54% in a year is pretty darn good. |
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CAblingbling | 11/6/2009 10:41:32 AMLocked Thread
new_method quote:
54% in a year is pretty darn good.
Its also a short term position. You've been arguing a long term trend. |
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new_method | 11/6/2009 11:24:23 AMLocked Thread
CAblingbling quote:
Its also a short term position. You've been arguing a long term trend.
Holding a posistion for a year is short term? I think thats dependant on who you talk too. |
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CAblingbling | 11/6/2009 11:41:28 AMLocked Thread
new_method quote:
Holding a posistion for a year is short term? I think thats dependant on who you talk too.
LOL...yes, that is short term. (And your comment speaks volumes) |
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new_method | 11/6/2009 11:47:13 AMLocked Thread
CAblingbling quote:
LOL...yes, that is short term. (And your comment speaks volumes)
 Well Daytraders, Swing traders, and lots of other traders all disagree with you. |
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CAblingbling | 11/6/2009 11:52:40 AMLocked Thread
new_method quote:
Well Daytraders, Swing traders, and lots of other traders all disagree with you.
Daytraders and swing traders aren't long term investors. Care to keep making really stupid statements? |
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CAblingbling | 11/6/2009 11:54:16 AMLocked Thread
new_method quote:
Well Daytraders, Swing traders, and lots of other traders all disagree with you.
Honestly...this is one of the most idiotic posts you have made in this forum. |
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new_method | 11/6/2009 11:55:50 AMLocked Thread
CAblingbling quote:
Daytraders and swing traders aren't long term investors. Care to keep making really stupid statements?
? That's what I am saying. That they aren't. |
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CAblingbling | 11/6/2009 11:59:21 AMLocked Thread
new_method quote:
? That's what I am saying. That they aren't.
Oh sorry...it appeared as though you were saying they all think a year is a long time. But their entire strategy is short term. |
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new_method | 11/6/2009 12:04:08 PMLocked Thread
CAblingbling quote:
Oh sorry...it appeared as though you were saying they all think a year is a long time. But their entire strategy is short term.
Ok I think we're on the same page..Daytraders think even more than a 'day' is too long.-This message has been edited by new_method on 11/6/2009 12:04:59 PM |
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CAblingbling | 11/6/2009 12:04:39 PMLocked Thread
new_method quote:
Ok I think we're on the same page..Daytraders think even more than a 'day' is too long.-This message has been edited by new_method on 11/6/2009 12:04:59 PM
Yep. Hence my reaction. |
