Archive for November, 2009

IMF gold movement

November 27, 2009

IMF Announces Sale Of 10 Metric Tons Of Gold To Sri Lanka
Tyler Durden’s picture
Submitted by Tyler Durden on 11/25/2009 13:22 -0500

* Ben Bernanke
* Bernanke
* Dow Jones
* Gold
* India
* International Monetary Fund

Developing story. The Tamil tigers are next in line to give Bernanke the one finger salute. Gold now at $1,186 $1,187. Do we hit $1,200 today?

WASHINGTON (Dow Jones)–The International Monetary Fund said Wednesday that it has sold 10 metric tons of gold to Sri Lanka, the third customer to acquire a portion of its gold holdings.

Sri Lanka’s central bank purchased the gold Monday, paying the equivalent of $375 million.

The IMF in September finalized a plan to sell 403.3 metric tons of gold–an amount equivalent to about one-eighth of its total holdings.

The IMF previously announced the sales of 200 metric tons of gold to India and 2 metric tons to Mauritius.