2012/05/18

Central Banks are adding tonnes of new gold to their reserves : statistics

 According to the World Gold Council, during the last quarter centrals banks and others official sector institutions from Russia, Mexico, Kazakhstan, Philippines, Belarus, Ukraine, Tajikistan, Turkey, Argentina added tonnes of new gold to their reserves, mainly to reduce their exposure to US dollar. Moreover,
"Central banks sales were virtually non-existent during the quarter. Signatories to the CBGA-3 have almost ceased sales of their gold, with occasional small sales announced as related to the sale of gold coins."
The 80.8 tonnes added during Q1 2012 are exclusive of the 14.3 tonnes net addition to Turkey gold reserves.


Read the source for more details : Gold Demand Trends Q1 2012