Central Banking

Study effects of gold lending says Italy's Santini

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Speaking at a Financial Times gold conference in Rome, Carlo Santini, the director general of Italy's central bank foreign exchange division said central banks should further study financial operations in the metal. He also argued that gold was still valued as a reserve asset was born out by the fact that central banks held about 33,000 tonnes - equal to about 13 years of production.

"It is a potential disturbing factor for the market because eventual sales by individual central banks outside a

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