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Together with Mexico, several other Latin nations are shopping for. In all chance, the Saudi Arabia Monetary Authority will stay buying quietly, alongside different oil producing nations. Bolivia, bought seven tons in February, Colombia and Venezuela have also been buying more bullion, on prime of their repatriated gold bullion that was previously held by the Bank of England. Saudi Arabia purchased a large amount of gold in June of 2011. 180 metric tons, nevertheless they by no means officially reported the transaction. There is definitely a great purpose for nations equivalent to China, Saudi Arabia and others not to report gold bullion purchases. From 1989 by 2009 official records show approximately 15 percent to 20 percent of web gold gross sales contributed to market provides yearly. They are now reworking into net buyers and not net sellers