SINGAPORE, Jan 15 (Bernama) -- Demand for gold is likely to rise as the
world heads towards a multi-currency reserve system under the impact of
uncertainty on the stability of the dollar and the euro, the main
official assets held by central banks and sovereign funds.
Source from (Bernama): http://www.bernama.com/bernama/v6/newsbusiness.php?id=921777
Published: January 16, 2013
This was the conclusion of a wide-ranging analysis of the world monetary
system by Official Monetary and Financial Institutions Forum, (OMFIF),
in a report commissioned by the World Gold Council, the gold industry's
market development body.
Driven by China's desire to increase its financial influence, the
Chinese renminbi is likely to emerge gradually as a genuine
international currency as Beijing eases restrictions on its use in
transactions and investments abroad.
During the coming period of uncertainty and transition between
different reserve currencies, official central bank asset managers
around the world are likely to increase their interest in gold as a
result of doubts about the overall strength of global monetary
arrangements, the report said.
The OMFIF report explored the asset management consequences of greater dispersion of global economic power.
-- BERNAMA
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