Jack FarchY
London— Financial Times
Published
Last updated
The activity of central banks is one of the most important drivers of the gold market, but many banks disclose few details about the changes in their bullion reserves.
Central banks became net buyers of gold last year after two decades of heavy selling - a reversal that has helped propel the price of bullion to a high of $1,920.30 (U.S.) a troy ounce in September, up 600 per cent in a decade.
This year, led by emerging market central banks intent on diversifying their growing foreign exchange reserves, they are set to buy more gold than at any time since the collapse of the Bretton Woods system 40 years ago, the last time the value of the dollar was linked to gold. LINK...
**********************************
WHY NOT YOU?
**********************************
WHY NOT YOU?
