Wow! Why is gold trading at record levels?

Filed under: Major movement, International markets, Deals, Market matters, Money and Finance Today, Commodities

Here's a shocker! India's central bank just bought 200 tons of gold!

Do you know why India bought the gold? India's finance minister said the reason for the purchase was that the economies of Europe and the US had "collapsed."

India swapped $6.7 billion dollars for gold equivalent to 8% of world annual mine production. India's move was a clear signal that Asia is moving away from the the US dollar.

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Wow! Why is gold trading at record levels? originally appeared on BloggingStocks on Tue, 03 Nov 2009 18:00:00 EST. Please see our terms for use of feeds.

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