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India will not lease gold bought from IMF

Posted on 22 August 2013

India has no proposal to lease gold bought from the IMF according to India’s Economic Affairs Secretary, Arvind Mayaram. His comments came in a text message. The influential in India, Hindu Business Line newspaper, had reported earlier that the government will consider leasing out 200 tons of gold bought from IMF in 2009, citing finance ministry officials it didn’t identify.
With strains in the LBMA gold market, further pressure may be being applied to India to now help with supply after their recent draconian attempted measures to restrict demand………………………………………..Full Article: Source


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