DUSHANBE, February 27, 2014, Asia-Plus -- The international gold prices have reportedly risen 10 percent over the past two months, reaching 1,328 USD per troy ounce.

An official source at the National Bank of Tajikistan (NBT) says the upward trend in the international gold prices will have a positive impact on the country’s gold reserve.

“The market price of the gold reserve we have made is increasing,” said the source, “The policy of increasing the physical volume of the gold reserve will be continued this year as well.”

We will recall that in a report released at a news conference in Dushanbe, Tajik central bank head Abdujabbor Shirinov noted on January 29 that the country’s gold reserves rose 1.4 tons in a year to December 31, 2013, reaching 13 tons.

As of December 31, 2013, Tajikistan’s gold and currency reserves were estimated at 1.0715 billion U.S. dollars, which is 10.2 percent more than in 2012.   In 2012, Tajikistan’s gold and currency reserves were estimated at 972 million USD, which was 170.4 million USD more than in 2011.

Meanwhile, Mining.com reported on January 23 that according to Thomson Reuters GFMS'' latest gold survey, gold may have lost favor among western investors this past year, but ''grass roots'' buyers still showed healthy appetites for the precious metal.

The data shows that gold fabrication was up 11% in 2013 and bar hoarding was at record highs, as the price decline spurred a ''frenzy'' of buying across Asian markets and a major geographical shift in gold demand over the second half of 2013.

As expected, China overtook India as the world''s biggest gold consumer, adding to the already long list of what China consumes more than any other country. The Asian giant sparked a surge in gold jewelry fabrication and posted the largest percentage year-on-year increase in jewelry demand in two decades.

Researchers see physical demand for jewelry, bars, coins and industrial uses as strong enough to support average prices above $1,200 this year.

As for central bank buying, the survey notes that many became “wary of buying,” holding off for potential further price declines. It''s estimated that central bank purchases dropped by about 34% in 2013, though researchers expect them to remain a net buyer of gold in the first half of 2014.

And while net official sector purchases dropped by 34% last year, 2013 was still a historically high year for gold and the slump should be taken into context: 2012 purchases were the highest since the 1960s.

Researchers reportedly expect gold to show a more “traditionally seasonal pattern that has been the case in recent years," as indications of economic recovery continue to drive investment away from the precious metal.  The average price forecast for 2014 is now at $1,225 for 2014 – 13% below 2013.