Eddie Van Der Walt and Nicholas Larkin
Excerpts from the full story….
(Bloomberg) — Central banks purchased enough gold in 2014 to buy 75 Boeing Co. Dreamliners.
Governments added 477.2 metric tons to their reserves, the second-biggest increase in 50 years and 17 percent more than a year earlier, the World Gold Council said in a report Thursday….
Central banks have added to gold reserves for the past five years, a reversal from two decades of selling since the late 1980s….
“There is a lot of scope for emerging market central banks to expand their holdings as these are still significantly underweight,” Alistair Hewitt, head of market intelligence at the council, in a phone interview on Wednesday. “Demand from this sector is going to remain robust.”
Full story available at Bloomberg Business