Central banks open new chapter as large net gold buyers

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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

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