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China Said to Consider Buying Gold From IMF, Market News Says
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China may purchase some of the 403.3 metric tons of gold being offered by the International Monetary Fund, Market News International reported, citing two unidentified government sources.
China will consider the purchase to diversify its reserves if the price is right and the potential return relatively high, the report said, citing one of the sources. There is no indication China is seeking to buy all of the gold on offer, the report said, citing no one.
The IMF board approved the sales, valued at about $13 billion, pledging to avoid disrupting the market with the transactions and saying it would “stand ready to sell gold directly to central banks,” according to a statement Sept. 18.... Full Story |
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Submitted Sep 21, 2009 1:27pm
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