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Taiwan boasts of gold gains but promises not to repeat them
Taiwan Central Bank Made Bonanza from Gold Purchases
By The Associated Press
via CBS MoneyWatch
Monday, March 12, 2012
TAIPEI, Taiwan -- Taiwan's central bank governor says the bank has made a bonanza from gold purchases in 2008 but does not plan to buy more of what he calls a risky asset.
Governor Perng Fai-nan said Monday that Taiwan has a policy to diversify its foreign reserves that now stand at $394 billion and does not plan to reduce its U.S. Treasury holdings to buy more gold.
He said the bank purchased about 19,000 ounces of gold in 2008. Gold was trading at $1,705 on Monday, more than double the 2008 price.
Perng said Taiwan now has 13.6 million ounces in gold holdings. He said its total value accounts for 5.5 percent of the island's foreign reserves, higher than Japan's 3.2 percent and China's 1.7 percent.
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Golden Phoenix Discusses Royalty Mining Growth Strategy
on '21st Century Business' on Fox Business Network
Golden Phoenix Minerals Inc. has discussed its royalty mining growth strategy on the Fox Business Network program "21st Century Business" with host Jackie Bales. Golden Phoenix's director of corporate communications, Robert Ian, told how the company narrows its focus to project generation and future royalty streams. He explained why Golden Phoenix believes it's better to own joint-venture interests in several producing mines instead of full exposure to just one project.
"21st Century Business" has been airing for 15 years. Previous hosts have included Gen. Alexander Haig, Gen.l Norman Schwarzkopf, and Secretary of Defense Caspar Weinberger. Golden Phoenix appeared as paid programming on this broadcast.
To view the program with Golden Phoenix, please visit Golden Phoenix's Internet site here: