Off the Radar.NYSE

[mick]

Dear Comrades In Golden Arms,

COT loses when it takes on governments.

COT loses badly when it takes on persistent governments.

COT gets creamed when the US dollar trades below .7400 and persistent government are persistent.

COT expires when delivery problems occur on any futures exchange, the dollar trades under .7400 and persistent government persist.

COT does the death rattle when COT takes on persistent governments that do persist, the dollar trades under .7400, delivery problems occur on any futures exchange and there is a run on the bank of ETFs who "own" more gold than anyone could have bought in the physical market, straining ones imagination enough to read the prospectus.

Junior precious metals shares and junior producers do their 1980 thing when the run on ETFs takes place.

Then Christmas comes?

India plans to buy more gold from IMF
By Mandakini Raina Nov 24 2009 , New Delhi

India is open to buying more gold from the International Monetary Fund (IMF). It bought 200 tonnes for $6.7 billion on November 3. The Reserve Bank of India (RBI) may well buy IMF's remaining hoard of 201.3 tonnes on acceptable terms, which are now under negotiation.

A government official said that the additional purchase would depend on the "successful pitching by RBI". "RBI is an independent body, and the government does not interfere in its affairs. It will get the gold if its bid is successful and at the price it has offered," said the official.

RBI did not respond to Financial Chronicle questions if it was bidding for the remaining IMF gold. The purchase of the first lot of 200 tonnes, RBI had said at the time, was a part of its foreign exchange reserves management operations.

Responding to query from FC, an IMF spokesperson said the gold sale process was still under way and "there is no fixed timetable for completing the sale". Its spokesperson further said that "the fund does not wish to comment on discussions with individual members."

RBI has good reasons to further enrich its gold reserves. In just three weeks it has been able to benefit by as much as $800 million on the investment of $6.7 billion it made in buying 200 tonnes from IMF.

Since 1999 RBI has been periodically valuing its gold reserves at "prices close to the market". It has not done so since it purchased the gold from IMF.

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http://www.JSMineset.com