Central Banks boost gold holdings yet again
byon 05-26-2012 at 11:54 AM (663 Views)
Latest figures from the IMF show that Central Banks have continued to increase their gold holdings significantly in April,
after a big increase the previous month.
Author: Lawrence Williams
Posted: Friday , 25 May 2012
The latest official Central Bank gold holding figures from the IMF confirm that Central Banks around the world are continuing to buy gold
- some in pretty large quantities which should be yet another stabilising factor for the gold price - and if the trend continues suggests
that the CBs will buy even more this year than last - and that's only the ones which let the world know exactly what their gold reserves are!
The latest figures not only show some substantial gold buying in April, but also a big lift in gold purchases by The Philippines which actually
date back to March, but were slow in being notified to the IMF. The Phillipines' March gold purchases amounted to no less than 1.033 million ounces
- 32 tonnes - of the yellow metal - the biggest volume since Mexico bought around 78 tonnes a little over a year ago - and increased tet country's
gold reserves by almost 20%.
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