Mexican Central Bank Added Almost 100 Tons of Gold in H1 2011

Friday, July 15, 2011

Mexico's central bank was the most active official golf buyer in the first half of 2011. According to figures released by the World Gold Council it bought a net 98.8 tons of gold in the reporting period.
Russia was the second biggest net buyer with 41.8 tons.
Only two central banks, those of Greece and the Philippines, sold a combined net 600 kilos in the first half of 2011.
TABLE: Net changes in official gold reserves, i.e. central bank holdings, in the first half of 2011. Data: World Gold Council.
And here is the latest list of official gold holdings as of end June 2011.



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1 comment

kalpeshmmaniar said...

S&P has downgraded US debt, this has created panic in the markets, but the question is should we take S&P seriously when these credit rating agencies have proved that their understanding about economies is indeed poor.

Remember, it is the same S&P that gave AAA rating to mortgage backed securities in 2005-2007 and we all know what happened after that, so I guess its time to be bullish when S&P, Goldman and the likes become bearish on the world.

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09 August, 2011 14:10

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