Reserves
Gold to hit $1,600 this year; GFMS survey
New survey by GFMS predicts price of gold could hit $1,600 per ounce by the end of 2011; survey captures swing to net purchases by central banks
Banque de France profits remain elevated on back of euro note increase
Annual report delivers news that profit at the Banque de France remains high this year. Net profit is €2.56 billion, profit before tax is €4.5 billion
Reserve Bank of Fiji reports $11.8m profit
Rise in value of foreign exchange reserves spurs $11.8m profit at Reserve Bank of Fiji in 2010; all profits transferred to capital Suva
Rejected Maiden Lane II offer baffles AIG
New York Federal Reserve declines AIG bid for Maiden Lane II assets; insurer says decision was unanticipated, expresses disappointment with Fed
Beijing official renews call to move away from “dollar trap"
Report by think-tank economist claims the international monetary system lacks stability and fairness as a result of dollar dominance
Bank of Finland reports €283 million profit
Bank of Finland experiences fall in profits as funds transferred to risk provision rise; central bank's governing body redirects increasing share of profits to government
Shift in central banks' attitude key driver of gold sentiment
World Gold Council's Natalie Dempster says central banks' renewed fondness for bullion was biggest driver of market trends in 2010
Central banks’ gold purchases continue; 20-year selling trend bucked
Official sector continued to be net buyers of bullion in three months to January; figures confirm that central banks were net buyers for first time in 20 years in 2010
The folly of foreign exchange intervention
The G-7’s bid to stem the yen’s appreciation threatens to damage Japan’s economy, Geoffrey Wood believes
China's growth and the yuan's status are not inextricably linked
China’s growing economic might has led to claims that the yuan will take its place among the reserve currencies. But, as Gary Smith argues, the link between GDP and reserve status is far from causal
IMF’s Lipsky on rebalancing SDR currency basket
IMF first deputy managing director John Lipsky says discussions on inclusion of renminbi in special drawing rights part of G-20 agenda
SNB confirms large loss on back of franc gains
Swiss National Bank reports $20.7 billion loss; figure slightly lower than that forecast in January
ECB reports €171 million profit
European Central Bank experiences sharp fall in profits for 2010 due to €1.16 billion transfer of income to risk provision fund
Hanoi to ban trade of gold bars
State Bank of Vietnam says government will issue ruling barring the trade of gold bars; move will follow 2008 ban on gold imports
Bank of Israel in the red by $4.9 billion
Israeli central bank reports loss for 2010; follows modest profit of $382 million in 2009
The value of active management for central banks
Central bank portfolio managers should not avoid risk but rather have a disciplined approach to managing it, Elisa Vilorio believes
DSK moots reserves role for SDR
IMF's Strauss-Kahn says ‘stockpiling’ special drawing right would create a more stable global monetary order
Crisis will not push SWFs to mull long-term shift: WikiLeak
Leaked diplomatic cable shows sovereign wealth funds rushed to liquid assets in immediate aftermath of crisis, but experts did not expect long-term portfolio shift
Central banks break 20-year streak with net gold purchase in 2010
World Gold Council's Fourth Quarter Investment Digest says central bank purchases of gold slightly outweighed sales for first time in 20 years on growing demand for the precious metal
BoJ study identifies capital inflow feedback loop
Bank of Japan Review study says foreign exchange intervention in emerging markets may have unintended consequences on capital flows
Estonia joins third central bank gold agreement
Bank of Estonia signs agreement limiting central bank gold sales to 400 tonnes a year up to August 2014; follows country’s entry to the eurozone
SNB expects $21.7 billion loss for 2010
Swiss National Bank says loss relates to foreign currency positions; says loss highlights need for independent central banks to have capital cushion
Gold could hit $1,600 in 2011, say analysts
Commentators say investor appetite for the precious metal will continue to soar as concerns over US economy, eurozone sovereign debt issues, persist