Netherlands increases gold holdings for first time since '98

Singapore

THE Netherlands added to its gold reserves for the first time since 1998 as the ninth-biggest holder boosted assets to the highest in seven years, while Russia bought for a ninth month, International Monetary Fund data show.

Bullion reserves in the Netherlands climbed to 20 million ounces or 622 metric tonnes in December, the highest since 2007, after being unchanged at 19.7 million ounces from December 2008 through November, the IMF's website showed.