china & india to purchase imf's gold

Evening gang,

Very bullish news developments for the yellow metal indeed:
http://english.pravda.ru/business/finance/25-02-2010/112369-china_gold-0

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There are also reports India is to buy the remaining mount of IMF gold (although link not working at this stage).

Check out the latest infon Peter Grandich's blog at http://grandich.agoracom.com/

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If these reports turn out to be correct, I hardly think these 2 countries would be putting up the type of cash with the view their gold investment is going to $750 an ounce sometime this year.

I would be focussing less on the inflation vs deflation debate and following India / China / Soros and Paulson who have all gone extremely long on gold in the past few months.

Sleep well.


Cheers

SW