Good call by the IMF....... just a shame that Gordon Brown sold our gold at the bottom of the market

Rob, london,

the long standing producers are still massively short on the market.

Rob , London,

What superb timing to sell when the price of gold is so high. Compare this with our own miserable sale of the nations reserves by BROWN, when he sold OUR GOLD at the VERY BOTTOM of the market. And yet this man is still in charge.
In any other organisation he would have been SACKED.

David Nammory, Liverpool,

A $7 drop is less than 1% of the current price. It's nothing. Maybe a few uninformed speculators sold off some gold, but that's it.

With world gold production at 2000-2500 tons annually, 400 tons is a drop in the bucket. It's great news for gold because it's another 400 tons out of government hands. The quicker that happens, the quicker we can get off this fiat monetary system.

Matt, Philly, USA

I understood that the IMF was surposed to be lender of last resort, to countries or large institutions in need of capital,.. It seems a little ironic that the IMF itself is now needing to raise funds!..

Promoting itself as one of the great global financial advisors, it's not setting a very good example,.. I mean does a farmer sell his land to raise capital to pay his workers?.. No he reduces his workforce,.. Surely the IMF should look to do the same,..

What a farce,..

Richard Guthrie, Scarborough, UK

This is very, very bullish for gold. The gold ounces will be transferred to India, China and other states who hardly have any gold.
Gold will go to and beyond 2000USD because of this.
The Communistic World Government will lose Big Time against the laws of nature.

Rob, Tilburg, the Netherlands

Ultimately, by selling the gold that was meant to back up currencies of all of these nations, the IMF is giving up even the pretense that their currency is worth any more than their promise that they will show discipline and not inflate their currencies unduly. Lots of luck with that.

Long term, I can only believe this move eggs on everyone who has bought gold because they believe currencies by fiat are becoming worth less and less.

Randy Epner, Haworth, NJ