Nov 17, 2009

In October, India bought 200-220 tons of gold from the IMF, sending gold prices $100 higher.

Now the little African nation of Mauritius is getting in on the act as well, buying two tons of gold from the IMF.

http://af.reuters.com/article/investingNews/idAFJOE5AG08B20091117

Apparently, they paid 1,115/oz for it. They didn't seem to mind the record high price. And when gold prices went up to another record-high of $1,140 on Monday, they were probably thinking they got it for a bargain.

Silver has actually done better than gold (as usual). It is up to $18.40/oz and is expected to hit $25 by early 2010.

http://www.321gold.com/editorials/davis/davis111609.html

All of this simply means that the dollar is expected to continue its downard spiral. Everybody is made at the US for its hypocrisy. They talk about a "strong dollar" being in our best interests, but in their actions, they continue to make war on the dollar, sending it down the toilet.