reduced by nearly half the amount of central bank selling

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Purchasing activity is concentrated in developing countries, central banks, including the National Bank of Kazakhstan, the Philippines, Russia and Ukraine, the country's central bank. This shows that the central bank in the accumulation of foreign reserves through intervention and exchange their gold reserves increases in order to maintain an appropriate ratio. in nearly 20 years prior to 2009, central banks were net sellers of gold. The data show that, from 1989 to 2007, the official the department average annual net amount of gold sales to 400 tons -500 tons, in 2008, reduced by nearly half the amount of central bank selling.

yesterday, the World Gold Council said, still in the low countries in the second quarter, the central bank selling. China's gold investment demand fell central banks actively purchase gold, this quarter global gold demand remains decreased, reflecting the global economic environment is still grim. Managing Director of the Investment Department of the World Gold Council, Guo Bosi said: in China in the second quarter is usually the low season for gold demand, investment demand fell 4%, to 51.1 tons. Gold demand fell 9%, to 93.8 tons. Compared to the five-year average of 103.1 tons, is also a 9% decline.