Indiarsquo;s deal to buy 200 metric tons (6.4 million troy ounces) of gold from the International Monetary Fund is a huge deal ndash; not just the fact that the New Delhi government is handing over $6.7 billion for the metal, but what it may mean for gold going forward. India is making a bullish call on gold. The supply of gold continues to decline ndash; the biggest supply is from governments selling their gold to pay for social programs. The IMF is a classic case of this. Whats particularly interesting in this case is that the buyer is a developing economy. I see this as another sign of the wealth shift away from the developed markets of North America and Western Europe toward the emerging world. China has also been a major buyer ndash; its gold reserves have nearly doubled since the start of 2003, when the price was about $345 an ounce. Another ...