“China buying IMF gold” story unfounded:
(Reuters) – The author of an article that said China had confirmed it would buy 191.3 tons of gold from the International Monetary Fund said on Friday she didn’t have official sources for her story.
China
Nobody was available to comment on Friday at China’s State Administration of Foreign Exchange, the arm of the central bank overseeing gold reserves.
The unverified report helped push up gold prices by 1 percent on Thursday, though other commodities fell, under pressure from a stronger dollar. Traders cited the talk about China as a significant factor why gold prices clawed higher.
March 2, 2010 at 6:55 pm
Looks like China has bought it. According to Stacey Herbert on Max Keiser report #21.
I sure hope they (and India CB) demand delivery from the IMF… That, to me, is key.