European Central Banks Are Net Buyers of Gold in 2011, FT Says
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European central banks have added 0.8 of a metric ton of gold to their reserves so far this year, according to European Central Bank and International Monetary Fund figures, the Financial Times reported.
It’s the first time the banks have been net buyers of the metal in more than 20 years and compares with average sales of almost 400 tons a year since 1999, the newspaper said.