Ronan Manly: Why central banks hold gold, in their own words


12:08p ICT Wednesday, March 21, 2018

Dear Friend of GATA and Gold:

Bullion Star's Ronan Manly today reports the results of his survey of central banks as to their reasons for holding gold. For the most part they acknowledge it as a special reserve financial asset, being highly liquid, available in emergencies, lacking counterparty risk, and without much correlation with other reserve assets. Interestingly, two central banks heavily connected to interventions in the gold market, the European Central Bank and the Bank for International Settlements, were among the least responsive.

Manly's report is headlined "Why the World's Central Banks Hold Gold -- In Their Own Words" and it's posted at Bullion Star here:

CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.


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