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.
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