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Central bank gold binge is even bigger than had been thought
By Eddie Spence
Bloomberg News
via Yahoo News, Sunnyvale, California
Tuesday, October 31, 2023
Central banks have loaded up on more gold than previously thought this year, offering crucial support to prices that have faced pressure from global monetary tightening.Countries expanded bullion reserves by 337 tons in the three months through September, the World Gold Council said in a report today. That follows an increase of 175 tons in the second quarter, which was bigger than the council’s previous estimate of 103 tons.
... Dispatch continues below ...
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Central bank purchases for the first nine months of the year now total 800 tons, driven mainly by China, Poland, and Singapore, as well as unreported buying. The pace has exceeded the amount for the same period of last year, which ended with record demand. ...
... For the remainder of the report:
https://finance.yahoo.com/news/central-bank-gold-binge-even-060000811.html
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