South Korea Follows Mexico: Buys 25 Tonnes of Gold

August 2, 2011 3:40 am

We had written about how Mexico was buying up tonnes of gold – to the tune of 90 plus tonnes – we spotted this today:

“Little wonder that the Gold price remained so well supported throughout this period. Even central banks are getting a little edgy and for the first time in a decade, South Korea bought Gold to diversify its FX reserves.

Gold is steady on the day around $1620/oz with technical resistance at $1630 and stops likely above $1650.”

Statistics Source: Forex Live

We have written about the total gold in the world earlier.

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