July 14, 2011Council: the central bank purchases of gold in half 1 / greater than in 2010
NEW YORK (Reuters) - World Gold Council said on Thursday that the central bank purchases of gold in the first half of this year exceeded the total purchases than in 2010 as a whole with the rapid pace of transformation since the anticipated sales of the so-called "formal sector".
Council did not mention specific figures, but growth does not come as a surprise after it became the formal sector a net buyer of the metal last year for the first time in two decades as a means to diversify the holdings of the central banks of the dollar, a trend long rally support for the precious metal prices.
Said Juan Carlos Artigas director of investment research on the Council prior to the Quarterly Bulletin to invest in gold "was not a sudden shift. The trend is gathering strength as Europeans began to reduce their sales and began emerging markets and developing countries buy more."
The world's central banks bought 73 tons of gold in 2010, according to Ji. F. M. S for Research on metals, which did not publish figures for the current year. Net official sector sales in 2009, 34 tons and 235 tons in 2008.
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