The New Gold Buyers

Central Banks have started to buy gold following the example of the Indian Reserves Bank that bought 200 tons of precious metal from the International Monetary Fund last year.

India’s move determined the gold prices to climb up and stay there. India’s move triggered a trend among the Central Banks that have begun to buy large amounts of precious metal.Several countries are doing this. Russia, for example, has been investing in the glittering metal for 20 years and so have the Philippines and Venezuela. The important aspect is that they are buying the yellow metal from the local production, using local currency and thus adding to the reserves or selling it on the market. Whatever they do with the gold after purchase the bottom line is that they are investing in their own economy.

And the result is that for the first time in two decades the Central Banks have become buyers and not sellers. It is obvious that the Central Banks have become so interested in buying the precious metal because they were caught off-guard by the worst financial crisis since the great depression. China is the country that has made the most important investments in the yellow metal sector. The country has raised its reserves to 1.054 tons.

It has become clear that this precious metal has become an important asset that we must include in our portfolio. We should try to invest part if not all of our savings in the yellow metal because its prices cannot fluctuate like the prices of the paper currencies.

There are numerous ways in which one can invest in the glittering metal, from gold accounts to shares or even physical gold like coins or bars. Gold is and will be an important part of the economy and now it is rated at high prices so this is the perfect time to invest.

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