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E-mailSource: Financial Times, 17th November 2011
"Tradition". That was Ben Bernanke's succinct reply recently when asked why central bankers continue to hold so much gold even while insisting that it is not money. Now, after a decade in which official gold reserves shrank continuously - outpacing growth in exchange traded funds nearly twofold - there may be a change in the air. Central banks made the largest purchases of gold in decades in the past quarter, says the World Gold Council.
