Russia, Kazakhstan and Azerbaijan boosted their gold holdings in April, a month that saw prices plunge to two-year lows in a pullback that raised questions over the metal's safe-haven status but also offered an opportunity to buy into the market at lower levels.
The International Monetary Fund on Monday issued its monthly gold-buying report, which represents the activities of almost all central banks and is closely watched by gold investors, showing the three former Soviet republics increased their holdings by a cumulative 75% more in April than they did in March.
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