Table 1: Official Gold Holdings (tonnes), from 2004 to Sept. 2011 Source: World Gold Council 2011, IMF, HD Capital Despite net Reserves having remained largely static over the past half-century, if 2010- 2011 Central Bank buying momentum is maintained going forward then purchases should account for 13% of global primary production, which in turn would represent a significant new source of gold demand. Table 2: Official Gold Sector Net Purchases/Sales (tonnes), from 2004 to Sept. 2011 Source: World Gold Council 2011, IMF 2004 2005 2006 2007 2008 2009 2010 2011* Africa 420 420 420 420 420 422 422 422 Asia 2,402 2,417 2,496 2,564 2,654 3,153 3,170 3,226 Australasia 80 80 80 80 80 80 81 81 Eastern Europe 930 933 949 941 1,015 1,142 1,283 1,347 Western Europe 14,051 13,529 13,207 12,707 12,436 12,300 12,294 12,294 Indian sub-continent 432 432 432 432 432 657 663 666 Latin & South America 571 571 571 573 576 586 599 714 Middle East 1,072 1,082 1,162 1,174 1,182 1,187 1,367 1,367 North America 8,140 8,140 8,138 8,138 8,138 8,138 8,138 8,138 IMF/ECB/BIS 3,425 3,418 3,402 3,368 3,355 3,342 3,342 3,342 Total 31,523 31,022 30,857 30,396 30,289 31,008
