Central bank gold purchases slow in third quarter

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Central banks continued to increase net holdings of gold in the third quarter of 2012, albeit at a significantly slower rate than the same quarter in 2011, according to figures published today (November 15) by the World Gold Council (WGC).

Central banks made net purchases of 97.6 tonnes of gold during the quarter, compared with 140.8 tonnes bought in the similar period of 2011. The decline in the pace of uptake was partly because the downgrading of US sovereign debt by Standard & Poor's in Augus

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