CBs to buy more gold - Rogoff

Harvard economic professor and former chief economist and director of research at the IMF, Kenneth Rogoff, told delegates attending a precious metals conference in Johannesburg that he expects central bank gold sales to be reversed in time. "There are less compelling reasons to sell gold in future", he said.

Rogoff argued that a key driver of central bank gold purchases will be the desire to diversify reserve portfolios. He believes the central banks will favour gold over other major currencies

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