Central Banks of Major World Emerging Markets Buys Gold to Diversify Portfolios
There are strong indications that the central banks of some countries whose economies are being regarded as emerging markets have started buying gold in an unprecedented manner despite the high prices gold has attained in recent times. The Director of Government Affairs, the World Gold Council, Nathalie Dempster, said in a statement that the central banks of some countries in the category of the emerging market nations are fast rebalancing their foreign exchange reserves by buying gold.
Relying on international financial statistics released by the International Monetary Fund (IMF), Dempster reported in a statement that the biggest buyers of… Continue reading