Bullish news is mounting for gold as the world’s central banks spark a surge in demand for the precious metal.
The People’s Bank of China boosted its gold reserves for a 3rd straight month in February, bringing overall holdings to 1,874 tonnes, or 60.26 million ounces. The move is part of China’s technique to move away from the U.S. dollar.
According to the central bank, it has added about 32 tons of the precious metal to its coffers in the last three months, purchasing some 10 tons in February.
The Reserve Bank of India, too, is boosting its gold …Click here for full article.
