Analysts sceptical over central bank gold buying

Central banks are unlikely to rush to diversify their reserves into gold in the near future due to the lengthy decision-making process and small size of the bullion market, Reuters said in a report.

"We are definitely aware of some central banks that are showing more interest in gold but there is a long decision making process, so we are not expecting any major purchases soon," said Jill Leyland, economic adviser to the World Gold Council.

"If you are talking on the pure diversification argumen