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International Monetary Fund gold reserve
International Monetary Fund gold reserve refers to 3,217 tonnes of gold held by IMF. It is currently priced at a range of $40 and $50 an ounce, a price that was fixed in the 1970s before Nixion government stopped pegging the US dollar to the gold and instead allowed the market forces to set the dollar's worth. An attempt to revalue the gold reserve to todays value has meet resistance for diffrent reasons. Canada, a major gold producer is against the idea of revaluing the reserve, as it would flood the market with gold and therefore depress it price.
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10-26-2009 08:16:03
The contents of this article is licensed from www.wikipedia.org under the GNU Free Documentation License. Click here to see the transparent copy and copyright details
The contents of this article is licensed from www.wikipedia.org under the GNU Free Documentation License. Click here to see the transparent copy and copyright details