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Gold/Mining/Energy : Gold Price Monitor -- Ignore unavailable to you. Want to Upgrade?

To: paul ross who wrote (49059)	2/16/2000 12:17:00 AM
From: paul ross	Respond to of 116796

The point about the CB's disinvestment of gold is that in reality not much has been disinvested over the years. The amount of gold held as a reserve asset has been relatively constant,with a slight downtrend. "Monetary authorities have long held gold in their reserves. Today their stocks amount to some 900 million ounces - very similar to their holdings 50 years ago." gold.org Gold as an overall percentage of total reserves has gone down, but I believe the CB consensus toward gold is, as one BIS official said (paraphrase) "gold would always be held as a reserve asset for over the years it has served to smooth any valuation deviation in CB asset accounts." Certainly not in the short term, but most CB's are very conservative and view things in the long term ..."some central banks are adding to their stocks of gold (for example, Russia, Poland, Kazakhstan, Philippines and latterly South Korea)..." gold.org (see colored chart of World Holding of Gold Reserves- about 35,000 tonnes presently.