Central bank gold purchases tripled in September, Goldman says, seeing continued strength | Metals Mine

  • Central bank gold purchases tripled in September, Goldman says, seeing continued strength

    From msn.com

    China added an estimated 15 tons of gold to its foreign exchange reserves in September, and worldwide central bank purchases of the metal likely totaled 64 tons for September, more than tripling the 21 tons reached in August, as central banks accelerated their purchases of bullion following a seasonal summer lull, Goldman Sachs analysts said Monday. Central banks likely bought large amounts of gold in November, Goldman said, continuing to view elevated central bank gold accumulation "as a multi-year trend, as central banks diversify their reserves to hedge geopolitical and financial risks." The bank maintained ... (full story)

Comment Options
  • Story Stats

  • Related Stories