Real, I am looking at the figure you posted for India's reserves, i.e. the 614.75 tons.

Considering the 1M bpd stated in the Debkafile article was China's and India's import quantity, let's say India's demand is half, i.e. 500k bpd. At $100/barrel, 500k bpd can be paid for with about 1 ton of gold @$1,600/oz.

In about two years time, India's gold reserves would be completely gone, if they were to pay Iran for oil with 1 ton of gold per day.

I find that interesting because I don't think any country would ever completely deplete their gold reserves just to buy oil.....unless they have some kind of gold production ace up their sleeve.....maybe I'm missing something here.

Do you recall what China's reserve quantity is?