[ChildOfThe60s]

Late on Wednesday, the IMF said it had sold 10 tons of gold to the Central Bank of Sri Lanka.

"We have had relatively supportive news from the central banks, particularly in Asia, confirming that there is demand for gold as a means of diversifying their large foreign exchange reserves," RBS Global Banking & Markets analyst Daniel Major said. "There is plenty more potential for central banks to buy either IMF gold or other gold in the market to try and boost their reserves," he added.

Investor sentiment was bullish, highlighted by the news that the U.S. Mint said it was suspending sales of the popular American Eagle one-ounce gold bullion coins due to strong demand. India's Financial Chronicle newspaper said India is open to buying more gold from the International Monetary Fund, which has around another 200 tonnes to sell. The IMF had no comment on the report. The market is sensitive to speculation of further official sector buying after news in early November, that India's central bank had bought 200 tonnes of gold from the IMF, sparked a rally.

Russia, Sri Lanka and Mauritius have also previously announced gold acquisitions, and traders speculate that more central banks, particularly in Asia, could be open to gold acquisitions to diversify their foreign exchange reserves.

http://www.financialpost.com/news-sectors/story.html?id=2265757

One question I have is this: where is the gold coming from that the IMF is selling? And where is the price going when the IMF has no more to sell in its efforts to depress the price?

And why are the IMF and the US and Britain getting rid of gold when the rest of the world is acquiring it? I've read rumors that Britain's gold reserves are essentially exhausted.

Could any of this be a factor in the FED's desire to avoid an audit at any cost? Oh great and powerful OZ, uh I mean Fed, don't look behind the curtain.

[carmelanne]

IMHO, I live in the Midwest and by all accounts would be considered to be in a comfortable position with reasonable options in how and where I choose to live. Uh, yes honey I know that you make all the decisions, I was just sayin.

If I committed the entire generous inheritance that I received from my wonderful grandmother, God rest her soul,I would be able to purchase about 275 American Gold Eagles. Sad huh! We just had an Insurance exec go bankrupt with a car worth that much.

I only mention this as I believe that most Freepers, all of whom I dearly love, cannot ever get in the game and do not have access to financial and social connections that would make them money players; me included, especially me since I don’t trust anyone that is prettier than my uncle Harold. Yeah that’s right, I’m referring to people on TV like Lou Dobbs and other girlie men. Nice tan Lou. Piss off.

Get real y’all and don’t be concerned with the $800 million dollar profit India just made and why they would hurry and commit to purchasing the remaining 200 tonnes from the IMF.
It is not meant for us to know about or understand and why should we.

When I wake up tomorrow I will still be an average, pink slippin, tea partying, bus riding, home made sign carrying white woman living in Carmel Indiana waiting for Sarah to come save me. OK guys, leftovers tonight.

[bruinbirdman]

"And where is the price going when the IMF has no more to sell in its efforts to depress the price?"

The IMF is selling now and the price is going up?

yitbos

[BlackVeil]

I've read rumors that Britain's gold reserves are essentially exhausted.

Very likely.

And the Canadian Mint found it had "lost" tonnes of gold. How many other countries have gold bullion on the books, but it is "lost"?

[Nam Vet]

It's probably leased gold that was sold long ago to suppress the price. I think both India and Sri Lanka, possibly others , are just trying to get their leased gold back. That's probably why China has been frozen out of the IMF gold even after they said they wanted it all.

Nam Vet