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Monday, July 18, 2011

Central Banks' First-Half Gold Buying Surpasses 2010 Total

Many within gold community assume that central banker hate gold. Their actions prove otherwise.

Central banks have bought more gold in the first half of this year than in all of 2010 as a long-anticipated reversal in so-called "official sector" sales gathers pace, a gold group reported on Thursday.

The World Gold Council provided no specific figures, but the rise will be little surprise after the so-called "official sector" became net buyers of bullion last year for the first time in two decades as a means to diversify their dollar holdings, a trend that has aided a long price rally.

Source: cnbc.com

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