Currency Wars – Russia and Netherlands Central Banks Buy 30.34 Tonnes Gold In December
By: GoldCore
GoldSeek.com
Tuesday, 27 January 2015
Russia and surprisingly the Netherlands were the largest central bank buyers in December – accumulating a significant 30.34 tonnes between them as currency wars intensify.
Demand for gold as a diversification and monetary asset continues to be very robust and central banks remain net buyers of gold which should be supportive of prices.
The Netherlands, which has the ninth-biggest gold reserves, raised its bullion holdings for the first time in 16 years. It added 9.61 tonnes to bring total gold reserves to 622.08 tonnes.
Russia raised its gold reserves for a ninth straight month in December as the country continued its multi month gold buying spree, adding to the fifth-biggest gold holdings in the world, data from the IMF showed yesterday.
Russia continues to dollar cost average into gold and increased its bullion holdings by another hefty 20.73 tonnes to 1,208.23 tonnes in December.
The Rest…HERE
