Nagel Sees Good Case for Central-Bank Diversification Into Gold

banker.bg

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Rising levels of government debt are strengthening the case for central banks to increase their gold reserves, says Bundesbank President Joachim Nagel. “The recent rise in global government bond yields has once again increased the relative attractiveness of debt securities,” he noted in his speech at the World Precious Metals Conference in Sorrento on October 5. “At the same time […]

finanzmarktwelt.de

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Note in advance: I find it amazing how openly and unambiguously the head of the Deutsche Bundesbank is talking about the reasons why central banks should increasingly buy gold. Normally, government-bearing and calming/passive statements by central bankers are more likely to be known. Gold: Stock situation positive or negative? Actually, the currently rising bond yields in many countries make investments in government bonds more attractive, [...]…

alborsaanews.com

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In a speech delivered today in the Italian city of Sorento, Nagel explained that the high levels of government debt and geopolitical risks reinforced the rationale for increasing central banks' gold holdings and diversifying their reserves. In a speech delivered today in the Italian city of Sorento, he explained that high government bond returns had further enhanced the attractiveness of debt instruments, but pointed out that increased debt leve…