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Singapore, Qatar continue buying gold, Libya boosts reserves to record levels
Central banks may have slowed the pace of their gold purchases, but they have not stopped, and they continue to see value in adding the precious metal to their foreign reserve. The Monetary Authority of Singapore has been a significant gold buyer this year and that trend continued in July. The central bank said that it bought 2 tonnes of gold last month, according to updated reserve data. So far this year, Singapore’s Monetary Authority has bought 73.6 tonnes of gold. According to the World Gold Council, Singapore has been the second most active gold buyer this year, behind only China. Kristen Gopaul, market ... (full story)