Gold should dominate RMB in central bank reserves, says WGC


Gold should take a more prominent role in central banks' reserves than Chinese renminbi, Canadian and Australian dollars, according to Ashish Bhatia, manager for government affairs at the World Gold Council (WGC).

The WGC today released a report in response to the growing trend among central banks to attempt to diversify away from US dollar and euro sovereign assets, noting that the share of "other currencies" in reserve composition has tripled since 2008. The WGC is promoting gold as an

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