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Central Banks Rush to Buy Gold

Central banks all over the world rushed to buy gold during the third quarter of 2011.

PRLog - Nov. 21, 2011 - Central banks all over the world rushed to buy gold during the third quarter of 2011. Total purchases for the quarter ending September 30 was seven times higher than the year ago period and were double the purchases from the second quarter.

They purchased at total of 148 metric tons of gold during the third quarter, compared to 66.5 tons in the second quarter and 22.6 tons in the third quarter of 2010. In total more than 348 tons of gold have been purchased this year through the end of third quarter.

According to the report from the World Gold Council, central banks were net sellers of gold bullion in the two decade period leading up to 2009.

Central banks around the world are bullish on the price of gold and are protecting themselves again the threat of inflation and devaluation. What are you doing to protect yourself? We can help you diversify your portfolio with gold coins, even in gold IRA accounts perfect for 401k rollovers and IRA transfers. Check out our website at http://www.aglobalcurrency.com today for free details.

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Source:Global Gold Group
Location:United States
Industry:Jewelry, Finance, Banking
Tags:gold, invest in gold, gold coin, central bank, World Gold Council, buy gold, gold bullion, inflation, devaluation
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