January 28, 2013
The U.S. CFTC numbers for the week finished Jan. 22 show that net long bets were raised for gold and silver.
Kazakhstan’s gold reserves expanded 1.7% to 115.3 tons or 3.707 million ounces last month, and surged 41% over the year, the data showed.
Turkey’s holdings jumped 14.5% to 359.65 tons last month, according to the IMF data. The amount has increased due to it accepting gold in its reserve requirements from commercial banks.
Philippines gold reserves fell 1% in November from October while Mexico’s holdings were down 0.1% in December to 4.004 million ounces, according to the IMF.
Iraq cut its gold holdings by a quarter to 29.9 tonnes in November, reversing some of the country's recent efforts to bolster its reserves.
Countries bought 373.9 tons in the first nine months of last year, according to the producer-funded World Gold Council, which said in November that full-year additions for 2012 would probably be at the “bottom end” of a range from 450 to 500 tons. Central banks purchased 456 tons in 2011.
Central bank diversification will continue to give long term support to gold.
The U.S. CFTC numbers for the week finished Jan. 22 show that net long bets were raised for gold and silver.
Kazakhstan’s gold reserves expanded 1.7% to 115.3 tons or 3.707 million ounces last month, and surged 41% over the year, the data showed.
Turkey’s holdings jumped 14.5% to 359.65 tons last month, according to the IMF data. The amount has increased due to it accepting gold in its reserve requirements from commercial banks.
Philippines gold reserves fell 1% in November from October while Mexico’s holdings were down 0.1% in December to 4.004 million ounces, according to the IMF.
Iraq cut its gold holdings by a quarter to 29.9 tonnes in November, reversing some of the country's recent efforts to bolster its reserves.
Countries bought 373.9 tons in the first nine months of last year, according to the producer-funded World Gold Council, which said in November that full-year additions for 2012 would probably be at the “bottom end” of a range from 450 to 500 tons. Central banks purchased 456 tons in 2011.
Central bank diversification will continue to give long term support to gold.