"Turkey lifted its gold reserves by a hefty 1.328 million troy ounces, or 30%, last month as central banks around the world continued as net buyers of the precious metal.
According to data from the International Monetary Fund, the Turkish central bank increased its gold reserves to 5.758 million ounces in November, from 4.429 million ounces the month prior.
Russia also continued its program of gold accumulation, lifting its holdings a further 81,000 ounces to 28.086 million ounces. Russia's reserves, having been added to every month so far in 2011, are now up 11% on the start of the year.
Emerging market central banks have been buying gold in reaction to the sovereign debt crises affecting the U.S. dollar and the euro, analysts say. Demand has also risen strongly in recent quarters as some seek to diversify foreign exchange reserves that have grown along with emerging market export industries."