Gold: record high in sight
Gold prices move above $1,060 an ounce closing in on last month's record high. By 1600 GMT, spot gold stood at $1,061.40 per ounce up 1.62pc and bringing the record high of $1,070.40 from October into view. Data released... [read full story]
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India's big gold buy a hint of things to come
The rising price of gold, which nearly reached $1,100 an ounce on Friday, has renewed the interest of central banks around the world Published on Friday, Nov. 06, 2009 7:25PM EST India's massive purchase of 200 tonnes of gold...
Sri Lankan news sends gold over $1,100
The price of gold hit a record high above $1,100 an ounce in London today following a report that Sri Lanka had joined India in purchasing the precious metal in favour of the US dollar. 'The Central Bank of Sri Lanka has...
Pop Goes the Dollar
Ominous Financial Future for America Thursday, November 5, 2009. Traders don’t want to be left out of profits, even if it means a little denial about what’s happening long term to the dollar, and by its association with the...
Prospect of central bank buying buoys gold
Pratima Desai LONDON — Reuters Published on Friday, Nov. 06, 2009 8:44AM EST Gold GC-FT rose on Friday, boosted by the prospect of central banks buying the precious metal to diversify their reserves and as the market waited for...
Why India bought IMF gold
I t has been an incredible turnaround for India. In 1991, New Delhi kick-started the economic reforms process owing mainly to the serious balance of payments crisis it was facing. Then, India — just an inch away from defaulting...
Asked about gold, China says improving FX allocation
BEIJING, Nov 6 (Reuters) - China reaffirmed on Friday that it is working to improve the allocation of assets in its foreign exchange reserves, when asked whether it would buy any of the gold that the International Monetary Fund...
Commodities Briefing :- No rush for Asian central banks to follow India into the gold buying big...
From Mineweb.com: Asian central banks appear to be in little rush to follow India's lead and make big purchases of gold given its high market price and the availability of cheaper domestically-produced gold. The relative...
IMF Gold Sale Spikes Price
The price of gold leapt to a record peak of $1,095.40 an ounce in trading here on Wednesday in the wake of the International Monetary Fund’s massive sale of the precious metal to India. Gold had already reached a record high of...
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