30
June
Central banks see growing reserve asset role for gold
30 June 2010 The Financial Times
Nearly a quarter of central banks believe gold will become the most important reserve asset in the next 25 years, according to an annual poll by UBS.
The result highlights the sea-change in attitudes in the official sector towards the yellow metal.
For two decades, central banks were net sellers of gold but that trend has reversed as central banks in Europe are scaling down their sales and others, such as China, India and Russia, are making significant purchases.
http://www.ft.com/cms/s/0/c897518a-7e5f-11df-94a8-00144feabdc0.html
