Which will put huge pressure on the gold price if they would do that in the open market....The author of the above article is talking about prices towards $ 1,200..... A number we have seen in more recent articles....
Unlike the article by the wordly blogger John Lindauer whose gold prediction is: "The basic answer is that in the long run the price of gold can only go down. And it will keep going down until mining virtually stops." This was discovered by Shiny to give everyone a chuckle.
"The IMF announced in February 2010 the beginning of sales of gold on the market. At that time, a total of 191.3 tons of gold remained to be sold. In accordance with the priority of avoiding disruption of the gold market, the on‑market sales were to be conducted in a phased manner over time. This followed the approach adopted successfully by the central banks participating in the Central Bank Gold Agreement. The initiation of on‑market sales did not preclude further off-market gold sales directly to interested central banks or other official holders. On September 7, 2010, the Fund sold 10 metric tons to the Bangladesh Bank. Such sales reduced the amount of gold to be placed on the market.
In December 2010 the IMF concluded the gold sales program with total sales of 403.3 metric tons of gold (12.97 million ounces), as authorized by the Executive Board. Total proceeds amounted to SDR 9.5 billion (about $15 billion)."
The five year Gold chart show a pretty good climb during this time.
SNDXF is the only PM stock I own as of today. Sold the rest of them. Most PM price action in 2012 isn't acting right, except for Sandstorm Gold, Great Panther, and EXK somewhat. But I'm not buying PMs right now. Content to wait for the next big drop to buy more PMs.
Stock market's been going up on low volume. Who knows what's going to come out of the Davos mtg this week w. the financial & economic bigwigs, and who knows what the IMF will do? I'm equally weighted between longs & shorts right now.