GOLDBUGS AMEX Goldbugs Index (GOLD)

[peel+green]

If India did go hog-wild and decide to sell its gold to wipe out three-quarters of its current account deficit, then who is it more likely to sell it to?
It could sell on the open market and have Goldman Sachs manipulate the price down and suffer a poor revenue result, or, maybe, it might prefer to sell its gold to a fellow BRICS nation which has an insatiable demand for gold and with whom it has a currency swap agreement.

Who might fit the bill there?
China is my guess.