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Unless another central bank steps in to buy what remains of the gold earmarked for sale by the International Monetary Fund (IMF), the fund will likely begin on-market gold sales in the first quarter of 2010, suggests VM Group analyst Matthew Turner.
However, after India surprised the market with its purchase of 200 t of the yellow metal from the IMF, it is still possible that the IMF could find another official sector buyer for the remaining 203,3 t it plans to sell, he commented in VM Group's Yellow Book, a twice-yearly report on the gold market, published with BNP Paribas and Fortis.
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