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Asian Governments Buying More Gold in 2013




Despite many predicting "the end of the gold era", due to gold's correction, a number of countries have continued buying gold this year: Russia, Kazakhstan, Turkey, Azerbaijan and Kyrgyzstan all bought more of the shiny yellow metal.

The USA and Europe are largely preoccupied with their crises: struggling to minimize debt, saving the euro from collapse, helping the dollar with monetary easing (although it's not a real solution), stimulating economic growth and struggling to increase in dustrial output - the East is stickpiling gold bullion.

Certainly this means something. We're living in a new gold rush. Regardless whether it's visible or not, whether it's reported on or not, the importance of gold has been increasing.

Officially, Russia is the 7th biggest holder of physical gold among all countries with its 996.2 tons. 6.2 tons were added this year. Russia expanded its gold reserves by 8.5 % in 2012.

Kazakhstan bought 4 tons of gold, which increased their total reserves to 129.5 tons. Impressively, the Central Asian country increased their bullion holdings by 41 % in 2012 and by 12 % in the first half of 2013.

Turkey bought 18.2 tons, with total holdings having increased to 445.3 tons in May already.

In April, Brunei and Nepal added more gold to their portfolio, while in May, Azerbaijan and Kyrgyzstan increased their holdings.

Meanwhile, China has been rather constantly accumulating gold without declaring their official holdings.

Further details are in this Bloomberg article and in Commodity Trade Mantra's article.

During the past years, various countries around the World have been purchasing gold bullion in order to diversify their assets in the current monetary uncertainty.

You too should think about your personal wealth's safety during this economic turmoil - consider using Prime Values' precious metal investments guide section for complete documentation on how to buy precious metals like gold, silver and even learn about the vital portfolio diversification techniques.





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