The past few years have seen a fundamental shift in central banks' behaviour with respect to gold. Since 2010, they have been net buyers of gold, driven in part by uncertainty over the future of the international monetary systems and the need to diversify reserves.
Gold can help central bank officials to manage market risk, improve portfolio performance and preserve national wealth.
The UNITAR and World Gold Council joint seminar, ‘Gold and sustainability,’ examined gold’s role in promoting the stability of reserve portfolios. Held at the United Nations Secretariat building in New York, it was attended by representatives from permanent missions accredited to the United Nations, government officials from ministries of finance and mining, central bank officials, and academics.
Panellists and seminar participants discussed recent trends in central bank activity and reiterated the compelling case for increasing central bank gold allocations.