The Qatari Royal family plans to spend up to $US10 billion ($10.4 billion) buying stakes in gold producers through their sovereign wealth fund, The Daily Telegraph can disclose.
The fund is seeking to invest in a range of natural resources, but gaining access to physical gold is its top strategic priority.
Yesterday, Qatar Holdings, which controls the wealth of the Middle East state’s royal family, confirmed it would invest about $US1 billion in European Goldfields, a London-listed miner currently developing the largest gold-mining project in Greece.
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