Brazil increases gold holdings by 90% in three months

central-bank-brazil

The Central Bank of Brazil added 14.7 tonnes of gold to its reserves in November, the latest in a series of purchases that has seen its gold holdings increase by 90% since September.

It now possesses 67.2 tonnes of gold, according to the latest World Gold Council (WGC) figures, an increase of 31.9 tonnes in the three-month period. At today's London am fix that equates to $1.7 billion worth of additional gold.

Gold now comprises 1% of Brazil's international reserves. The purchases over the last

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