Value Microcaps Motherboard

[jtomm]

Gold Currently $415 an ounce?

I've seen this story multiple places. Sounds bullish for gold. 36 tonnes purchased for $480 million:

http://www.tradearabia.com/tanews/newsdetails_snIND_article105452.html

But there's a bit of a problem when you do the arithmetic. Convert 36 tonnes to troy ounces:

http://www.google.com/search?q=convert+36+tonnes+to+troy+ounces

Divide $480 million by that figure and it's less than $415 an ounce.

Don't quite know what to make of this, other than maybe it's a government official giving a great deal to one of his friends.

I wonder if this was part of the reason for the price decline.