Month: November 2020

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.

The post 2020 survey on how central banks see gold first appeared on Today’s top gold news and opinion.

Reuters/Balazs Koranji and Francesco Canepa/11-11-2020

“Having struggled to lift anaemic inflation for years, officials including the heads of the ECB, the U.S. Federal Reserve and the Bank of England will attempt to figure out why monetary policy is not working as it used to and what new role they must play in a changed world – be it fighting inequality or climate change.”

USAGOLD note:  The monetary adrenaline thus far has kept the patient alive but always on the brink of further calamity.  The one thing they haven’t tried – and are unlikely to try – is letting the free market be the free market.

The post Central bankers will seek to understand why monetary policy is not working at annual meeting first appeared on Today’s top gold news and opinion.