Countries with emerging markets continue to add to their gold reserves. Some of these countries include Russia, Thailand and Bolivia. Some central banks are also investing in gold to diversify their assets and this gold buying trend has helped drive up the price of gold.
BY RHIANNON HOYLE
SEPTEMBER 29, 2011
Wall Street Journal
LONDON—Emerging-market countries continued to top up their gold reserves in August, with Russia, Thailand and Bolivia among those to add to their holdings.
Central banks have bought gold as some seek to diversify foreign-exchange reserves that have grown along with emerging market export industries. The purchases have helped drive the price of gold higher, because they absorb supply and boost market sentiment.
This year, central-bank officials also began buying in earnest in reaction to the government debt woes affecting the U.S. dollar and the euro.
While central-bank officials are careful not to skew the market with huge purchases or disposals...
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