India's central bank isbuying200 metric tons of gold from the IMF.
China, Russia and some EU central banks have alsoexpressed interestin buying gold from the IMF or elsewhere.
Therefore, Bloomberg'sarticleof today saying that "Central Banks Will Become Net Buyers of Gold, WGC CEO Says" is not controversial.
Given that the IMF has onlyauthorizedthe sale of 403.3 metric tons of gold at this time, the IMFs sales won't drive gold prices down. Indeed, the other 203.3 metric tons should go pretty quickly, and there will almost certainly be left over demand from the world's central banks. Remember, China itself previouslyconsidered purchasingthe entire 403.3 metric tons.
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