Gold, in the first six months of 2011 central banks bought more than in all of 2010

In the first six months of this year, the central banks have totaled gold purchases higher than those of all of 2010. This is what the World Gold Council reports, which however has not provided exact figures on these institutional purchases, which in 2010, according to the research firm Gfms had totaled 73 tons. 2010 was a real watershed for central bank gold buying. After decades in which their reserves had progressively decreased, monetary institutions have in fact once again become net buyers of gold. This trend reversal is mainly due to the action of the central banks of the emerging countries, which are particularly interested in diversifying their currency reserves. It is therefore evident that it was not only private individuals who triggered the financial movements that led gold to reach new records. On the Chicago raw materials market, the ounce of gold has in fact touched 1.600 dollars, while today it marks a moderation at 1.584 dollars.