Bank of Mexico Buys 100 Tons of Gold in February, March

Mexico's central bank and become the next big national bank to increase their holdings of gold. This follows the pattern of many other central banks increasing their gold reserves and should be seen as a positive sign for gold.

BY RHIANNON HOYLE
MAY 4, 2011, 12:32 P.M. ET
WALL STREET JOURNAL

LONDON—Mexico's central bank purchased almost 100 metric tons of gold in February and March, another signal that emerging markets are likely to steadily raise their gold reserve holdings, industry participants say.

The purchase--reported in the International Monetary Fund's statistics on international reserves--follows a shift in the gold market to net central bank buying, following years of official sector sales, and should be welcomed as a positive sign for the yellow metal, said Jonathan Spall, director of commodities ...

To see original article CLICK HERE

Follow Us

Share Page

Login

Get access to the latest trading information, tools to help your investing, and much more!

Login   Sign Up

Search

Weekly Charts

Current Spot Prices

Gold$1235.95
Silver$18.69
Platinum$1362.00

Special Offers

 
 
© 2012 Swiss America Trading Corp. All Rights Reserved.   |   Privacy Policy   |   Site Map   |   Contact Us   |   Mobile Version
SWISS AMERICA and Logo are trademarks of Swiss America Trading Corp.
Where did you hear about us?
Roger HedgecockRay Lucia
Pat BooneMichael Savage
Bill CunninghamOther
iHeart Radio/Rush Limbaugh
×