Wednesday, February 17, 2010

More IMF Gold For Sale



MarketWatch:

International Monetary Fund to sell another 191 tons of gold

To put that in perspective, GLD holds (supposedly) about 1100 tons. So 191 tons is a noticable amount, but it's not overwhelming.

But it is somewhat worrying that they didn't find any 'official sector' buyers for this hoard. With all the hype the last couple years, you'd think the Chinese or such would be anxious to scoop up an extra hundred tons or so, as they seem willing to buy anything at any price. Maybe there was a scheduling conflict with the Lunar New Year. Year of the Tiger, only supposed to buy yellow things during odd months when the Yangtze's in retrograde.

But remember, 666 is a very lucky number.