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Here's a shocker: India's central bank just bought 200 tons of gold.
India paid $6.7 billion to the International Monetary Fund for the gold, securing the equivalent of 8% of the world's annual production. India's move is a clear signal that Asia is moving away from the U.S. dollar.
India's finance minister said the reason for the purchase was that the economies of Europe and the US had "collapsed."
Continue reading Why is gold trading at record levels? Look to India for the answer
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