goldsilverworlds.com / By Gold Silver Worlds / February 15, 2013
The latest World Gold Council report details the global gold reserves at the end of 2012, as held by central banks. In this article, we show the latest figures in the top 40 gold reserve holdings and highlight some 2012 trends.
The countries that have added most actively to their gold reserves in 2012, were the developing markets. They continue to diversify their dollar and euro based holdings . Gold gives the security and stability that a currency deserves, especially in uncertain times of ongoing “global currency wars” (as detailed in one of our latest articles).
In terms of global gold reserves in 2012, the report describes the general tendency:
Central banks garnered a greater share of gold demand in 2012, accounting for 12% of the total compared with a 10% share in 2011. Total net purchases by central banks of 534.6 tonnes exceeded 2011′s already strong total and signalled a return to levels of buying last seen almost 50 years ago.
Moreover, from a longer term perspective, central banks have continued to be net purchasers of gold. That trend started in 2009 and is confirmed to be intact.