The G20 communique includes this "use the additional resources from agreed IMF gold sales". What agreed IMF gold sales? The gold price has, unsurprisingly, tanked; it is down 2.9% so far today.
So gold looks to have taken a downward turn, I see this as a temporary blip in the rising trend for gold prices. High worldwide inflation must surely mean gold increasing in value; no?
Talk of gold leads me to remind you that it was of course Gordon Brown who ordered the Bank of England to sell half the UK's national reserves after first pre-announcing the sale so as to depress the market price. I believe that the price of gold rose around 17% after that sale.
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