5 central banks around the world are still voracious to buy gold despite a sharp decline from the yellow metal in recent months, especially in the end of June.
This prompted central banks decline to reduce gold reserves during the current year with the exception of these five banks, which boosted its purchases during the first half of 2015, and adopted the site the latest World Gold Council data released in August.
China’s sixth has the largest gold reserves in the world, and with the exception Monetary Fund and the Asian country with the fifth to become the largest gold stocks, China’s central and keen to increase gold purchases despite the decline danger witnessed by the Chinese stock markets, as the country needs to stimulate its economy without relying on loans.
Experts attributed the increase to continue China’s gold stocks to the continuation of their need for a huge inventory of real physical assets to support the value of the local currency, the central bank added about 604 tons of gold during the month of June the total volume of the golden lid for up to 1658.1 tons in August.
Russia’s economy is suffering from the repercussions of the Russia imposed economic sanctions against the backdrop of the Ukrainian crisis, Russia and the need to support the local currency at the present time more than ever.
The «Central» Russian purchase of about 67 tonnes of gold during the second half of 2015 Russia’s total gold stock for up to 1275 tons, which makes Russia’s seventh-largest sovereign holder of gold in the world and the sixth if the IMF exception.
A signal that Russia is one of the largest gold producers in the world, and the Russian central bank depends on the local market to buy gold instead of the global metals markets.
Keen Kazakhstan over the past years to increase its stockpile Golden, it has added about fourteen tons during the first six months of 2015.
And Kazakhstan occupies 23 place on the list of the largest nuclear-weapon States the yellow metal in the world, but it is moving to the center 21 with the exception of both the International Monetary Fund and the European Central Bank.
Jordanian Central Bank does not have to buy the yellow metal during the second quarter of the year, but added about fourteen tons during the first three months of the year.
The central bank and operates the 53 on the list of the world’s largest gold reserves as it has 33.3 tons of the precious metal, the average Jordanian economic growth rate of about 3% during the last three years.
The central bank said in Mongolia 0.7 tons during the first half of 2015, bringing the size of the little golden cover to 2.2 tons in August, and operates a state located in Central Asia, it ranked 93 in terms of the world’s largest gold reserves.