The Rumor Mill News Reading Room
Russia And Mexico Both Buy Nearly $1 Billion Worth of Gold in March
Posted By: Coeus [Send E-Mail]
Date: Tuesday, 24-Apr-2012 10:50:58
Looks like the central banks have been on a gold buying spree, here are the latest figures and who is buying the most gold. Do they know something we don't?
Coeus
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Mexico, Russia and Central Banks Continue Diversifying into Gold
While gold demand from the western investors and store of wealth buyers has fallen in recent months, central bank demand continues to be very robust and this is providing strong support to gold above the $1,600/oz level.
IMF data released overnight shows that Mexico added 16.8 metric tons of gold valued at about $906.4 million to its reserves in March.
Russia continued to diversify its foreign exchange reserves and increased its gold reserves by about 16.5 tons according to a statement by its central bank on April 20.
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1 comment:
yea, that's why the price dropped.....everybody wants it?????????
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