Asian Central Bankers Increase Their Gold Ratios

Asian central banks and regulatory authorities will take a greater interest in gold Central bankers in Asia have become far more receptive to talking about gold than they were a couple of years ago. Interest in gold reserves has risen among central banks because of the uncertain environment created by the slowdown in the U.S. economy and the weakening U.S. dollar, volatile equity markets and geo- political instability, he noted. The five-day seminar on the management of foreign exchange reserves is being attended by delegates from 29 central banks, government agencies or regulatory authorities from 13 Asian countries. Gold is back on their radar screens. Asian central banks have traditionally held only 1 to 5 percent of their foreign exchange reserves in gold. European central banks hold about 30 to 40 percent and the U.S. more than 55 percent, DPA reported. With so little yield now from U.S. treasury bills, it is time for Asian central bankers to increase their gold ratios. The seminar, which opened on Monday, is being held at the Institute of Policy Studies. © &to=http://www.neftegaz.ru' target=_blank>NEFTEGAZ