October fixed a dramatic increase of precious metals purchases from the National Bank of Belarus by its residents and enterprises. The banks sold 183.14 kilograms of gold, worth about $7 million, in October. This is 2.5 times more than the monthly average of this year (banks sold only 654.36 kg of gold in January — September).
Nevertheless, despite the October gold bullions’ sales increase, National Bank sold 11% less gold in January-September 2010 than the same period last year. Simultaneously, gold prices increased by 6% in August, by 5% in September, the newspaper «Belarusy i Rynok«.
However, the amount of gold, purchased by banks back, also increased. It made 53.3 kilos in October, with total return of 336.1 kg for the first ten months, which is 37.3 kg per month on average.
The demand for other precious metals has also been growing. The population and enterprises of Belarus have bought 248 kilograms of silver in October 2010, while over ten months — 895.1 kg, which is 13.6% more than in January — October 2009.
In addition, the banks sold the 1.9 kilograms of platinum bullions in October. In total residents of Belarus were sold 20.4 kilograms of platinum in 2010, which is in 2.3 times more than in January-October 2009.
According to Telegraf, net purchase of foreign currency (cash and non-cash) in Belarus was $317.2 million in October 2010 along, whereas in September it was bought only $62.8 million. Thus, citizens of Belarus acquired 5.1 times more net currency in October than in September and almost twice times more than in August.
