The Street: Why the World Central Banks Are Going Gaga Over Gold

Article by Simon Constable in The Street

Central banks are going gaga over gold.

They are snapping up the metal at the fastest rate in almost half a century in a trend that looks set to continue.

Over the 12 months through March 31, they purchased a whopping 715.7 metric tons of gold bullion worth around $29.4 billion, according to a recently published report from the industry group World Gold Council.

"By the look of the figures they could repeat that or even surpass it this year," says Milling-Stanley. "That is a very welcome development for the gold market as a whole."

To read this article in The Street in its entirety, click here.