India buys 200 tonnes of IMF gold
The Reserve Bank of India (RBI) concluded the purchase of 200 metric tonnes of gold from the International Monetary Fund (IMF) on Tuesday. The country now holds an estimated 6% of its reserves in gold, the purchase having boosted its holdings from 357.7 tonnes to 557.7 tonnes.
The IMF is a de facto signatory to the third Central Bank Gold Agreement which caps annual gold sales from all members at 400 tonnes. This transaction, which has generated $6.7 billion (SDR 4.2 billion), represents just
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