GATA: - THE GATA DISPATCHES: Mexico's Central Bank Huge Gold Purchase / Lars Schall The War on Gold and Silver / Is Mexico buying Siver too?
Huge gold purchase by Mexico's central bank: 100 tonnes Submitted by cpowell on 05:38AM ET Wednesday, May 4, 2011. Section: Daily Dispatches By Jack Farchy Financial Times, London Wednesday, May 4, 2011 http://www.ft.com/cms/s/0/cbc02e10-7637-11e0-b4f7-00144feabdc0,s01=1.htm... The central bank of Mexico bought nearly 100 tonnes of gold in February and March, the latest emerging market country to turn to bullion as a means of diversifying away from the faltering dollar. The purchase is one of the largest by a central bank in recent history. The gold, worth $4.6 billion at current prices, is equivalent to about 3.5 per cent of annual mined output. The central bank has not been publicly announced the move but has reported it both on its own balance sheet, posted it online, and reported it to the International Monetary Fund's statistics on international reserves. Central banks became net buyers of gold last year after two decades of heavy sellin