Emerging market central banks drive gold demand with reserve diversification


Mexico's central bank made the single largest purchase of gold in the first quarter, continuing a trend among central banks to buy gold as a way to diversify reserve holdings, according to the World Gold Council (WGC).

In a report on gold trends during the first quarter released today, the industry body said central banks across the globe continued the established trend of net buying, with demand in Q1 2012 reaching 80.8 tonnes (t). Demand was driven by eastern Europe, with Russia and Kazakhstan

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