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India: International Monetary Fund sells gold to Reserve Bank of India.
Section: General News - Marks agency's first sale in nine years, The Nation reports.
The International Monetary Fund recently sold 200 tonnes of gold to the Reserve Bank of India for US$6.7 billion (Bt224 billion), its first sale of the precious metal in nine years.
The transaction, which involved daily sales from October 19 to last Friday at market prices, is in the process of being settled, the IMF said on November 3 in a statement.
The average price in the sales to India was about $1,045 an ounce, an IMF official said on a conference call with reporters. Gold for immediate delivery rose in Asia, approaching a record $1,070.80 an ounce.
"The …
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