Central
Banks boost gold holdings yet again - GOLD NEWS - Mineweb.com | The
world's premier mining and mining investment website Mineweb
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 the country’s gold reserves by almost 20%.
Very interesting topic. Now is definately the time to cash in on gold as our customers have clearly been doing for some time now. Keeping our eyes on the Price of Gold while offering Cash for Gold day in day out! Daniel @ www.thegoldnews.com
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