India has bought 200 tons gold from IMF

1) The IMF on Monday announced the sale of 200 metric tons of gold to the RBI, almost half of the total sales volume of 403.3 tons.

2) For India, the purchase is a hedge against a falling dollar.

3) China, Russia and Brazil are also shifting their reserves to gold.

4) The total sales proceeds were equivalent to US$ 6.7 billion at an average gold price of $ 1045 per ounce.

Conclusion: This is more evidence that the world is losing faith in the dollar.