You are here: Home » International » News » Finance
Business Standard

Central bankers get tired of gold as lower exports cut cash

Bloomberg 

Thebiggestownersofgoldaretiringofthemetal. Centralbanks-holdersofabout32,900metrictonsofbullion-cuttheirpurchasesby40percentduringthethreemonthsthroughJune,comparedwiththesameperiodayearearlier,tothelowestsince2011,WorldGoldCouncilfigurescompiledbyBloombergshow.Itwasthethird-straightquarterlydrop,thelongestsuchstreakinatleastfiveyears. Buyingdeclinedin2016aspriceswererallyingfortheirbiggestfirst-halfgainin40years.Centralbanksinemerging-marketnationshavebeenaddinglessgoldastheamountofcashthey ...

Related Search
First Published: Wed, August 31 2016. 00:13 IST
RECOMMENDED FOR YOU