Central banks open new chapter as large net gold buyers
Central banks are entering a new chapter as net buyers of gold, after recording bulk purchases of bullion throughout the first half of 2011, according to Thomson Reuters GFMS, a precious metals consultancy.
Figures released in its Gold Survey 2011 on Thursday show net official sector purchases surged in the first half of 2011 to more than 200 tonnes, from just 77 tonnes for the whole of 2010. The purchases were led by central banks in Mexico, Russia, Thailand and South Korea.
Speaking in Hong
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@centralbanking.com or view our subscription options here: http://subscriptions.centralbanking.com/subscribe
You are currently unable to print this content. Please contact info@centralbanking.com to find out more.
You are currently unable to copy this content. Please contact info@centralbanking.com to find out more.
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Printing this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@centralbanking.com
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Copying this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@centralbanking.com
More on Reserves
Reserve managers brace for war
Geopolitical escalation could trigger inflationary and energy shocks, RMT survey finds
A new climate of change
Central banks are warming up to address climate risks just as US interest cools
Malaysia using more yuan and ringgit for trade, BNM says
Central bank says the use of dollars for settlement has remained stable over last 14 years
SNB posts loss of Sfr3.2 billion
Sight deposit account balances drove this year’s loss, Swiss National Bank says
Sanctions will trigger reserves diversification, official says
Central Banking Spring Meetings: Speakers say geopolitics impacting reserves and inflation outlook
Bosnia’s reserves rebound after asset reshuffle
Central bank’s vice-governor cautions against premature rate cuts in face of geopolitical risks
Malaysian governor urges firms to support currency
Cambodian and Malaysian central banks will launch a new cross-border payments link
Bundesbank and DNB announce large losses
Dutch central bank improves its profit forecast but Nagel anticipates continuing shortfalls
Most read
- ECB says iPhone is currently incompatible with digital euro
- Supervisors grapple with the smaller bank dilemma
- Central bank of the year: Central Bank of Brazil