It has been revealed recently that the total purchases made by the central bank in terms of gold, as far as the third quarter is concerned, was double of what had been incurred in the last quarter. It was further added this was seven times higher than what had been incurred at the same time last year.

It has come as a result of the official reserves that were continually diversified by the nations. These details were given out by the World Gold council. The new statistics have come as a streak of joy as well as shock for the analysts and traders.

It was revealed that for the year 2010, there was 22.6 tonnes of gold purchased in the third quarter. It had been 66.5 in the second quarter though, for the official sector, and official institution like the central bank, besides others.

"Central-bank buying was a highlight of the quarter. Statistics this year have been remarkable", revealed Marcus Grubb, the MD of the World Gold Council. It was further assessed by Edel Tully that this was a huge surprise and these figures were nowhere near expectations. He further said that this is a bullish sort of information and there is no doubt about the fact that there is going to be many speculations made about identity of the buyers of these gold products.

There have been major fluctuations recorded in the prices of gold all over the world, and this comes as a part of the strain caused by the Eurozone debt crisis. It is essential that effective steps are taken to end the same before there are any other major fluctuations or losses incurred in any sector of the world economy.