Central banks’ gold purchases continue; 20-year selling trend bucked

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Central banks are net buyers of gold

Central banks continued to be net buyers of gold in the three months to January, data released by the World Gold Council, a marketing body for the industry, on Tuesday showed.

The data confirmed preliminary reports released in January that 2010 was the first year in 20 when the official sector was a net buyer of the precious metal.

The figures show that in November central banks' net purchases were 12.5 tonnes, in December 2.5 tonnes and in January 1.9 tonnes. The figures were largely the result

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