In politically driven markets saw a rise in the past months and years, the price of gold. This is not currently the case. This speaks for the gold price , and against a formation of bubbles at noble metal. Because Gold is not a game ball, but to serious asset protection. This is a must have also perceived the emerging countries.
While the US and Germany were among the largest gold owners in the world, in the emerging and fast-growing emerging markets, which have partly exceeded significantly the threshold, completely different. These countries and their Central banks have a large pent-up demand for gold reserves.
The diversification of currency reserves, etc. is here in the emerging market countries is by far not as advanced as in developed countries. This is also the reason for this is that a low gold price is used, this deficit.
According to a study by Commerzbank, the following transactions were carried out:
“In the last month, according to data from the International monetary Fund (IMF), a total of approximately 20 tonnes of gold increase in purchases by Central banks. The buyers included Russia (7 tons), Kazakhstan (4.9 tonnes), Mongolia (1.5 tons), Azerbaijan (1 ton) and Ukraine (0.6 tonnes).“
(Source: Commerzbank AG)“
Also, Turkey has increased its reserves. Here is the Background, however, somewhat different: It is a regulatory realignment, which for the purchase of 5.7 tons of Gold.
Another eye to lose reason for the increasing purchase of Gold by Central banks in emerging countries, the competitive Devaluation by the Central banks . This, and the impact of the Euro debt crisis, also show the intrinsic importance of the gold treasure of the Nations, which is the only haptic hedging instrument act.
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- Article image: Carlosh / pixelio.de
- Figures: Commerzbank AG
- Interview: DAF