During the past 2-3 years, the purchases of gold by the various national banks have intensified. Apart from that, some countries have resorted to repatriating their gold reserves held in foreign vaults.
According articles published under the “Market Watch” section of Prime Values – precious metals advisor, the trend is in fact intensifying even more and we’re actually seeing a “new gold rush”!
China, India, Russia, Mexico, Iran, South Korea, Turkey, Azerbaijan and others are among those countries that have taken measures to increase their gold holdings.
Others have engaged in repatriating their foreign vaults-held gold. Venezuela has already brought their 160 tonnes of gold back home and Germany has recently announced that it will repatriate 674 tonnes of gold from vaults in London, New York, Paris.
China and India are the biggest buyers of gold. Precious metal experts have been watching the purchases of record amounts and many of them believe that this is just the beginning of the gold bull market. The two giants will eventually push gold’s price much higher.
All these factors are making gold bulls stronger on the long term. And this makes gold a safe investment for wealth preservation during terms of severe economic turmoil.