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GoldCore: Why central banks plan to increase gold reserves this year
From GoldCore, Dublin
Thursday, July 8, 101`
Central banks' interest in increasing their gold reserves made news again this week.
Bloomberg's headline on the topic was "Gold Regains Shine After Central Bank Buying Drops to Decade Low." The article notes that central banks may be regaining their appetite for buying gold after staying on the sidelines for the past year.
... Dispatch continues below ...
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Central banks from Serbia to Thailand have been adding to gold holdings, and Ghana recently announced plans for purchases. As the specter of accelerating inflation looms, a recovery in global trade provides the firepower for purchases.
The National Bank of Serbia plans to increase its gold holdings from 36.3 to 50 tonnes because, long-term, gold is the most significant guardian and guarantor of protection against inflationary and other forms of financial risks. ...
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