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Global Central Banks Buy 20% Less Gold Last Yr; Analysts Predict Further Shrinkage This Yr
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While gold investment demand soared by 84% to 2,175.3 tons last year, global central bank gold purchases fell by 21% to 863.3 tons, according to data from the World Gold Council. Analysts believe that high gold prices and the inflated value of existing holdings have suppressed the demand for further accumulation by central banks, which also reflects that hedge funds and private investors have become key factors in gold price surges. AAStocks Financial News |
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