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Message: Indians to Pay for Iranian Oil With Gold .........NOW .IS CHINA GOING TO FOLLOW

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Indians to Pay for Iranian Oil With Gold .........NOW .IS CHINA GOING TO FOLLOW

posted on Jan 25, 12 04:05PM (Log in to use the IP Check tool) ^[?]

No doubt this will help Drive the gold price up a little more .. IMHO

Indians to Pay for Iranian Oil With Gold

by Gold Editor on January 25, 2012

Author: Press TV
Posted: January 24, 2012

India has agreed to pay the price of crude oil it imports from Iran in gold, which makes it the first country to drop the US dollar for purchasing the Iranian oil.

According to a report published by DEBKAfile news website, unnamed sources have stressed that China is also expected to follow suit.

India and China take about one million barrels per day (bpd), or 40 percent of Iran's total exports of 2.5 million bpd and both of them have huge reserves of gold.

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