G20 - what effect on gold price?

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bluenose
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Joined: Mar 30 2009
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G20 - what effect on gold price?

 Hi All,

I'm still trying to digest the announcements and analysis from the G20 meetings, particularly those allowing the IMF to sell 400 tonnes of gold reserves. The article says $6bn which is a drop in the bucket compared to the overall size of the stimulus package - does the maths add up?

http://economictimes.indiatimes.com/articleshow/4351993.cms

Obviously this has to depress the gold price at least in the short-medium term. Anyone out there care to speculate on what this does in the medim-long term?  How does it fit into the big picture?

Cheers,  Peter

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