India SurprisesThe World.

India , of late is creating sensations.
It is a fascinating country.
Poverty , snake charmers, bumpy roads were the watch words of India.
But the ambience of the ancient country has transformed .
It has become a super economic power.
It is the first to come out of the recession.
It has put all the wealthy nations in the back seat.as it had quietly fulfilled the transaction of gold from IMF. It has bought 200tonnes of gold for $6.7billion.
This dramatic move will bring down the startling price of gold.


The world stands amazed.
The European nations are bewildered.
China is disappointed, as it was considered a prospective buyer.
Unexpectedly, India has become the most eligible bachelor to woo the golden bride from IMF
It has successully won the hands of this charming yellow golden girl.

India'sforeign exchange reserves held at the central bank totalled $285.5 million on OCT 23, of which gold acounted for of $10 billion. The latest purchase will lift its share of gold reserves to 6%rom 4%., which is less than most developed countries , but more than 4 times of China's share.
IMF's sale of gold is part of its policy to extend loans in concessional rates to the poorest countries.
India and China had promised to buy Gold from IMF , to enable them to promote the specific cause.
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