Gold Breaks the 1,200 dollars/oz Mark

摘要

In early November the International Monetary Fund (IMF) made a surprising announcement that it had found a buyer for half of its long-planned bullion sale: India. That pushed gold prices up to l,063 dollars/oz and the prices continued to climb. During mid-November, the U.S. Federal Reserve announced that it would hold interest rates steady and gold climbed above 1,139 dollars/oz. On December 2, after Barrick announced it would close out its remaining price hedges, gold closed at 1,214.80 dollars/02, a new record. The Reserve Bank of India purchased 200 metric tons (mt) of gold from the IMF for 6.7 billion dollars. The sale surprised a lot of traders who expected China to make the bid. IMF had previously announced plans to sell more than 400 mt or an eighth of its total gold reserves to fund loans to poor countries. The deal now places India among the top 10 central banks.