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Brazil Doubles Its Gold Reserves

According to Bloomberg News, Brazil has engaged in boosting their national gold holdings in November 2012 to double the country's holdings in August 2012. Central banks from Belarus, Russia and South Korea have also added more gold to their portfolio.

The respective Bloomberg article is giving us concrete figures about Brazil's purchases: Brazil's gold holdings have reached 67.2 tonnes (14.7 tonnes were bought in November 2012, 17.2 tonnes in October 2012, 1.7 tonnes in September) - data according to the IMF's website.

This has been the first increase since 2008.

The same article is telling us that in November 2012, Russia has also increased their holdings in by 2.9 tonnes, Belarus as well (1.4 tonnes), Turkey (5.9 tonnes), Mexico (0.1 ton).

Various nations have acquired 373.9 tonnes of gold in the first 9 months of 2012 and full-year purchases will probably be in the 450-500 tonnes range (according to an estimate by the London-based World Gold Council).

One can observe that in general - the emerging economies hold the least amount of gold, while the more prosperous countries hold the largest amounts.

Italy, France, the USA, Germany hold over 70 % of their reserves in gold. Brazil's share is only 0.8 %.

(Figures are reflecting the facts of late January, 2013)

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