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0.00% 51.5¢ conquest mining limited

Maybe something to do with gold price soaring.India to buy 200...

  1. s8
    7,757 Posts.
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    04/11/09
    10:53
    Post #: 5869953
    Maybe something to do with gold price soaring.

    India to buy 200 tonnes of IMF gold - which was a surprise.


    http://business.timesonline.co.uk/tol/business/industry_sectors/natural_resources/article6901612.ece


    The gold spot price hit a new high of $1,078 an ounce yesterday after India said that it would buy 200 tonnes of the precious metal from the International Monetary Fund (IMF).

    The Reserve Bank of India’s $6.7 billion (£4 billion) deal removed concerns that the IMF’s gold could flood the retail market and weaken prices.

    CQT Price at posting: 61.0¢ Sentiment: None Disclosure: Held
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