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BookmarkWGC said global banks bought 109 tons of gold from January to March. However, the figure was 5% lower than the purchases a year ago.
LONDON(BullionStreet): Central banks continued to buy gold and remained significant acquirers of gold during the first quarter this year, making purchases in excess of 100 tons for the seventh consecutive quarter.
WGC said global banks bought 109 tons of gold from January to March. However, the figure was 5% lower than the purchases a year ago.
According to World Gold Council, Q1 2013 was the seventh consecutive quarter in which central banks acquired more than 100t of gold, and the ninth consecutive quarter in which central banks have been net purchasers as they diversify their portfolios.
Globally, bar investment was up 8% while official coins (such as American Eagles and Canadian Maple Leafs) were up 18%. Gold held by gold-backed ETFs, which in 2012 accounted for 6% of the world’s gold demand, fell by 177t.
