Friday, November 20, 2009
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India joins China in mad rush out of the dollar
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Tuesday, November 03, 2009
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From 24/7 Wall Street:

The dollar is still losing its luster as the foreign reserve currency of choice.

India has just bought 200 tons of gold from the IMF at $1,045 an ounce which is close to a recent record high of $1,070. The entire transaction is worth almost $7 billion. The move is seen as a way for India’s central bank to move some of its capital away from investments in the dollar.

The IMF may sell another 200 tons of gold...

Read full article...

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Topics: Gold | India | Commodities
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