by Peter Schiff, Schiff Gold:
The central bank gold-buying spree shows no signs of letting up. In fact, it ramped up again in August after ebbing slightly in July, according to the latest data released by the World Gold Council.
After a relatively modest net increase of 13.9 tons in July, central banks globally took in a net 57.3 tons of gold in August.
Gold purchases of a ton or greater amounted to 62.1 tons. Gross sales came in at 4.8 tons.
The World Gold Council bases its data on information submitted to the International Monetary Fund.