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Central Banks Buy the Most Gold Since 1964

Central bank buying for 2012 rose by 17% over 2011 to some 534.6 tonnes. As far as central bank gold buying, this was the highest level since 1964. Central bank purchases stood at 145 tonnes in the fourth quarter. That is up 9% from the fourth quarter of 2011, and the eighth consecutive quarter in which central banks were net purchasers of gold.


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Same report parroted by Bloomberg News.

Gold Council Sees Central Bank Bullion Buying at 48-Year High
By Nicholas Larkin - Feb 13, 2013 10:00 PM PT

Central banks added the most gold to reserves in almost a half century last year as prices averaged a record, the World Gold Council said.

[Bloomberg News speculates as the to reason why gold price is going up.]

“This is very much due to a desire to diversify away from over-reliance from the dollar and the euro.” [Really, trust us] - Bloomberg News, where speculation is news.

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