SARB may increase gold reserves

The South African Reserve Bank might increase its gold reserves, its head said Tuesday, but gave few details.

In response to a question, Mboweni noted that the central bank has been increasing its foreign exchange reserves at a measured pace and there was no reason why it could not boost gold holdings.

"As part of our reviews on composition of our gold holdings, we may even consider increasing our gold holdings," Reserve Bank Governor Tito Mboweni said in a prepared text of a speech at a precio