Proposal would allow BCB to use gold reserves as collateral or swap them for foreign exchange
War and inflation appear to be supporting demand for the reserve asset
But real rates are likely to remain low in historical terms, and gold tends to perform better with high inflation
Central bank aims to double gold reserves over the next five years and support local mining industry
Government initiative aims to prevent smuggling
Rate of gold buying down on first quarter of 2020, as Hungary leads purchases
Purchase programmes can save resources, while fostering security and fairness in mining industry
MNB says inflation risk and higher government debt played “key role” in decision
WGC says higher local demand boosted gold trading between banks and CBRT
Researcher says large holdings can be justified, but only for some purposes
The Covid-19 pandemic and the reaction from central banks had a significant impact on the price of gold. Over the past few decades, central banks have viewed gold as a ‘safe-haven asset’ – an investment that can be used to dodge the impact of negative…
Róbert Rékási speaks to Central Banking about how Covid-19 has changed gold investment trends
The price of gold has skyrocketed this year, but central banks have not flocked to invest as they have done in the past, write Rachael King and Victor Mendez‑Barreira.
Reserve managers share their views on future gold holdings, target allocations, purchasing and storage approaches, the use of ETFs, and the impact of Covid-19, in the results of a new joint Central Banking-Invesco survey. By Nick Carver and Robert Pringle
Key survey data and comments reinforce the main findings in Invesco’s central bank reserve management white paper on the revival of gold as a reserve asset.
In a year of exceptional circumstances – especially true for gold, which, in August, saw an all-time high price – Invesco explores how pandemic-driven uncertainty has returned the precious metal to the spotlight of the global monetary system.
Sales by gold producers Turkey and Uzbekistan lead decline in global holdings
Negative sovereign yields boost gold’s attractiveness among reserve managers
World Gold Council says demand for gold-based ETFs has boosted prices
Lawyers for Maduro regime say they will appeal over access to $1 billion store
Authorities say they need $1 billion to fund response to Covid-19 crisis
New Fed facility may further reduce incentives to buy gold, Hungarian official says
Central banks purchased 156 tonnes in third quarter of year, 38% less than a year earlier, WGC figures show