In a stunning move today, India purchased 200 metric tons of gold from the International Monetary Fund (IMF) for $6.7 billion dollars. It is the largest single purchase of gold in nearly a decade. The move spurred gold up to a record high $1085 an ounce.
You can read more about this and its implications here:
http://www.bloomberg.com/apps/news?pid=20601012&sid=al7qXOH.bVn8
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