South Korea buys 25 tons of gold in the last 2 months. I have to say I didn,t expect to read this, its a surprise to me.

http://old.news.yahoo.com/s/afp/20110801/bs_afp/skoreaeconomyfinancegoldforex

How many more countries will be buying? All of them that can? Looks like to me that the demand for gold just keeps growing and growing. 25 tons is a lot of gold, 660,000 ounces approx. I was thinking the pog will go to $1800 by years end, but with these kind of surprises, it may go to the $2000 some guys speak of.

I think this may have been part of the reason gold didn,t decline like I thought on the debt ceiling approval, unless its yet to come. But maybe not, there are a lot of countries that could buy on these dips forming a base for the price. China still has a long way to go to catch the U.S., but they are taking a slightly different approach of buying it in the ground and getting their citizens to buy what they can. A possibility,if numerous countries all start panicking and buying at once, where will that put the POG?

Here is a good link to what countries own gold, 111 or so, and some other good things in it. I was trying to find out how much gold was being traded and how much bought and held, but to no avail.

http://en.wikipedia.org/wiki/Gold_reserve