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Central Banks are buying more gold than ever — Shouldn’t you be too?

Posted on 28 March 2013

Bloomberg reported recently that Russia is now the world’s biggest gold buyer, its central bank having added 570 tonnes (18.3 million troy ounces) over the past decade. At $1,650/ounce, that’s $30.1 billion worth of gold.
Russia isn’t alone, of course. Central banks as a group have been net buyers of gold for at least two years now. But the 2012 data trickling out shows that the amount of tonnage being added is breaking records. Based on current data, the net increase in central bank gold buying for 2012 was 14.8 million troy ounces - and that’s before the final 2012 figures are in for all countries………………………………………..Full Article: Source


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VRS - who has written 39496 posts on Opalesque Commodities Briefing.


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