LONDON Nov 21 Brazil raised its gold holdings
by 17.170 tonnes in October, data from the International
Monetary Fund showed on Wednesday, bringing its bullion reserves
to 52.518 tonnes.
The IMF's monthly statistics report also showed that the
euro area had lowered its gold holdings by 4.168 tonnes to
10,783.609 tonnes in October. The euro area figures largely
reflected Changes in Germany as it lowered holdings by 4.199
tonnes to 3,391.446 tonnes last month.
Meanwhile Kazakhstan raised its bullion reserves by 7.527
tonnes to 111.543 tonnes.
Turkey raised gold holdings by 17.543 tonnes to 319.907
tonnes in October. It also revised its September figures upwards
by 6.843 tonnes to 302.361 tonnes, the data showed.
Turkey allows commercial banks to use gold as collateral for
loans, and changes to its balance sheet are often connected to
Central bank buying of gold has been a major support to gold
prices XAU=, which hit record highs a year ago and are still
holding above $1,700 an ounce, more than double their level of
five years ago.