Central Banking/Nick Carver and Robert Pringle/11-10-2020
“Several respondents from this group noted that gold was an elemental part of their reserve management framework and as such was not impacted by market moves. A reserve manager from Asia explained: ‘Gold has been an integral part of our reserves regardless of market condition, and it may likely continue to be so.’”
USAGOLD note: As a gold firm whose clientele buy and large owns gold for long-term asset preservation purposes, it was gratifying to learn that 64% of the central bankers surveyed saw “diversification benefits” as the most relevant reason for owning gold – the number one determinant by a wide margin. The Central Banking study is worth a visit at the link above – if for no other reason that to buttress long-termers’ rationale for owning the metal.
