South Africa records increase in value of gold reserves

sarb

The South African Reserve Bank today announced the gross gold and foreign exchange reserves and the international liquidity position of the central bank increased by $438 million and $567 million respectively.

The value of the central bank's gold reserves as calculated on February 29 rose by $186 million compared with the figure recorded at the end of January 2012.

"The increase in the gross reserves were primarily due to valuation adjustments, emanating from the higher US dollar gold price and

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