ECB's Noyer sees gold's role as reserve declining

GERMANY - Outgoing European Central Bank Vice President Christian Noyer said on Tuesday that the role of gold in central bank reserves was declining but was still part of central bank credibility.

"The importance of gold is slowly declining, but it doesn't mean it's not black and white, it doesn't disappear from one day to the other," Noyer said in testimony to the European Parliament's Economic and Monetary Committee.

"It is still part of the credibility of central banks and I see nowhere wher

To continue reading...