“The biggest single central-bank purchase that we know about for at least 30 years in such a short period,”
It is not as much like "it showed large buyers are ready to accept the current price levels", but more like compared to holding USD reserves, it may be wiser holding gold.
Source: www.bloomberg.com
Gold jumped to a record after India’s central bank bought 200 metric tons of the metal from the International Monetary Fund, heightening speculation that there may be more official purchases.
More on India buying gold from IMF.
When one is buying and another selling, it doesn't increase price. If a hype is made, and many more want to buy, and there is not enough available at that price, then only a bubble is created. And now may be a hype is being created.
http://www.bloombergutv.com/experts-opinions/market-experts-column/659/india_shows_hedge_fund_savvy_with_gold_buy.html
More on India buying gold from IMF.
When one is buying and another selling, it doesn't increase price. If a hype is made, and many more want to buy, and there is not enough available at that price, then only a bubble is created. And now may be a hype is being created.
http://www.bloombergutv.co
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