By Esther Tanquintic-Misa: Subscribe to Esther's RSS feed
January 25, 2012 12:37 AM EST
Gold reserves by the Republic of Belarus in the last month of 2011 have grown to 1.21 million ounces from 1.028 million ounces in November 2011, data from the Web site of the International Monetary Fund said.
This, as the World Gold Council (WGC) expects gold buying of central banks could have breached another record in 2011.
The Natsionalny Bank Respubliki Belarus bank on its Webs ite reported it holds 1.2 million ounces of gold for December.
"Gold reserves are replenished as a result of the central bank purchasing gold," Mikhail Zhuravovich, a spokesman for the Natsionalny Bank Respubliki Belarus, said in Bloomberg News. The conversion into gold of interest payments received also supplemented to the increased numbers, Mr Zhuravovich added.
When asked if the country plans to buy more gold purchases in the immediate future, Mr Zhuravovich declined to comment.
No comments:
Post a Comment