Correction in gold may be coming near-term

The IMF is planning to sell massive quantities of gold, almost 13 million ounces. The proceeds will be used to fund loans to poor countries. This will put selling pressure on the price of gold near-term, and will present a good opportunity to add to gold and gold-related holdings. If prices correct, this may be our last opportunity to buy gold under $1000/ounce.

Central banks from Russia, China, and India will be net buyers of this gold, which should provide some support. Mid-term and long-term, with renewed interest in India and newfound interest from China, the investment thesis for gold remains bullish.

http://www.imf.org/external/np/exr/faq/goldfaqs.htm