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Central Banks’ Gold Rush Driving Prices Higher
(eToro Blog) With financial turmoil escalating to improbable levels in the Eurozone, it seems that it’s not only investors who jittery about the turn of events. According to a recent report published by the World Gold Council, the world’s central banks have made their largest gold purchase in decades, amounting to some 148.4 tons on a net basis, during the last quarter, a sure sign that they are also getting increasingly nervous. While the Council declined to specify which banks were behind the gold purchases, they did mention that quite a few new entrants participated in the buying spree. Central banks are ... (full story)