IMF Completes Sale of $19 Billion Worth of Gold
Yesterday, the
International Monetary Fund quietly announced that it had completed the
sale of over 400 metric tonnes of gold to Central Banks and other giant
institutions.
Though it's one of the biggest single sales of gold in world history, it was largely ignored in the mainstream press.
Most remarkably, this record gold sale has had little effect on the price of gold futures.
The lack of transparency in this matter tells us that Central Bankers don't really want to advertise their own use of gold as a hedge against the likelihood of a currency crisis.
There's really no way to tell what level of price manipulation this sale has, or will have, on the price of gold in the future...
That level of uncertainty means that it's important to invest in gold vehicles that have the added built-in safety of income.
To that end, Ian Wyatt of Wyatt Investment Research recently published a research report on the highest dividend paying gold stock in the market. Amazingly, this company currently pays a 9% yield.
