Central banks around the world continue to snap up gold.
Over the past few years, central banks around the world have been boosting their gold reserves, a recent viagra cost per pill IMF data showed.
Because of deteriorating relations with the West over the situation in Ukraine, Russia has been aggressively increasing its gold cialis problems reserves. The Russian central bank has boosted its gold holdings by 16.8 tonnes to 1,094.8 tonnes in June, shows an International Financial Statistics report by IMF.
Mexico, Greece Kyrgyzstan, Kazakhstan, Serbia, Tajikistan, and Equador also reported higher gold reserves for June.
Between Q1 2009 to Q1 2014, India’s central bank boosted its gold holdings 56% to 557 tonnes, as Russia’s reserves of the yellow metal almost Gasex online doubled to 1,040.71 tonnes. In 2009, the People’s Bank of China showed a 75% increase of gold reserves to 1,054 tonnes – it’s last
official statement. Since then, analysts believe, China has accumulated vast amounts of gold.
The cialis online current race for gold was stimulated by the global financial crisis in 2007-2008. In 2012, central banks scooped up more gold than they have in one year since nearly half a century, but in mid-2013 the price of gold plunged to $1,200 an ounce from a peak of about $1,800 an ounce just a year earlier.
It was expected that central banks will start liquidating some of their gold reserves. Instead they continued to buy gold.
Evidently central banks strongly believe in gold. The economic uncertainty is still there – the global economy hasn’t recovered from the recent meltdown. Add to that the growing tensions over Ukraine and the crisis elsewhere and it starts to make sense.
Sources:
Central banks continuing to boost gold reserves
Central Banks Bought Most Gold in Nearly 50 Years
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