Mexico, Kazakhstan and the Ukraine were active buyers in the gold market last month, while the Philippines' central bank lifted its gold reserves by more than one million troy ounces in the month prior, latest figures from the International Monetary Fund showed Thursday.

The purchases, particularly that by the Philippines--the largest reported addition to a country's gold reserves since Mexico bought 2.5 million ounces in March 2011--should "gather much attention from market participants...[and] should somewhat help sentiment for gold," UBS analyst Edel Tully said.

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