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Published on Gold Anti-Trust Action Committee (http://www.gata.org)

Central bank hunger for gold lifts demand to 3-year high

By cpowell
Created 2019-08-01 13:24

By Rupert Rowling
Bloomberg News
Thursday, August 1, 2019

Central banks continued to load up on gold in the first half of the year, helping push total bullion demand to a three-year high, according to the World Gold Council.

Nations added 374.1 tons in the first six months as Russia and China kept building reserves and Poland made a massive purchase. The trend is expected to continue, with a recent survey of central banks showing 54% of respondents expect global holdings to climb in the next 12 months.

... Dispatch continues below ...



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Central banks have added to reserves as economic growth slows, trade and geopolitical tensions rise, and authorities seek to diversify away from the dollar. Gold rallied to a six-year high in July, as expectations for lower U.S. interest rates and concerns about the economy boosted bullion's appeal. ...

... For the remainder of the report:

https://www.bloomberg.com/news/articles/2019-08-01/central-banks-hunger-... [2]

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Source URL:
http://www.gata.org/node/19296