First India, now Russia

The Indian central bank shocked the financial community when they snapped up 200 tons of gold from the IMF's planned sale of 403 tons, as many observers believed the Chinese central bank would be the largest buyer. A few other central banks have since purchased gold on the open market, or from the IMF.

Russia's central also has been accumulating gold into their reserves, as has China's central bank, which has doubled its gold reserves since 2003.

http://in.reuters.com/article/fundsNews/idINGEE5AM1A020091123