China, currently the world's largest Gold consumer, recorded a +6% gain in demand for jewelry and bar and coin
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National Bank of Kazakhstan announced in July that it would increase its Gold purchases to 26 metric tons from 24.5 metric tons this year, targeting to raise its Gold holdings to 15% of the foreign exchange reserve. During Q-2, the country added +5.4 metric tons in its reserve. The Russian central bank also bought 22.3 metric tons of Gold during Q-2 with the amount of Gold staying at 9% of total reserve.
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Guatemala was reported to have bought 6,000 ounces, boosting its holdings to 227,000 ounces, while Greece purchased 1,000 ounces, bringing its reserves to 3.593 million ounces.
The Central Bank of Russia, however, said last week that last month it increased its reserves to 29.5 million ounces, from 29.3 million ounces.