April 26, 2013

Central banks bought record amount of gold before collapse

Central banks went on the biggest spending spree in 50 years, buying the most gold since 1964 last year. Their high stockpiles of devalued metal probably makes them the biggest losers of the gold slump.  

Central banks have bought the most gold since 1964 in 2012 just before the precious metal took a plunge on the stock market, and are now stuck with record losses and a stockpile of devalued gold. Read more.

RT

Related,
- Gold Rout for Central Banks Buying Most Since 1964: Commodities - Bloomberg

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