With most countries around the world Gold Bar regularly buying gold for the last five years, the world has seen around 142 percent upsurge in the price of gold since 2008. Experts believe that the current scenario is just perfect for gold trading. According to projection by the World Gold Council, the total purchase of gold by central banks may reach 500 tons by the end of 2012. Interestingly, central banks have already purchased 254.2 tons of gold in the first half of 2012. Here's a look at some interesting facts revealed by the International Monetary Fund (IMF).
In July, 2012, South Korea and Russia purchased consecutively around 16 tons and 18.6 metric tons of gold.
The Kyrgyz Republic, Turkey, Ukraine, and several other countries have spent more money for buying gold in 2012.
For the 12 consecutive months, Kazakhstan increased their bullion reserves
In an interview with MarketWatch, Justin Harper, a market strategist at IG Markets said, "Gold prices continue to be underpinned by growing demand from central banks... we believe this trend is likely to ramp up once liquidity increases in global markets," https://www.a1mint.com/product-category/gold/gold-bars/