Gold
Covid-19 fails to interrupt asset diversification – survey
Lower yields remain the top worry of reserve managers in 2020, study finds
Reserve Benchmarks 2020 report – charting new data frontiers
Perspectives on staffing and salaries, reserve coverage, portfolio construction, benchmarking, use of external parties and risk management
European central banks remain leaders for gold
Average gold holdings on the continent stand at 10.6 million ounces
One third of reserves staff work in front-office roles
Average reserve management team size is less than 30 employees
Diversification makes gold shine brighter – panellists
Negative sovereign yields boost gold’s attractiveness among reserve managers
RBA reserves decline sharply during Covid-19 crisis
Official reserves declined from $46.7 billion in March to $33.5 billion in August
Klaas Knot on ECB policy-making, the FSB and central bank ‘capture’
DNB president talks about the temporary nature of unconventional policies, the importance of inflation target ‘bands’, the role of central banks as ‘circuit-breakers’ and ECB decision-making under Christine Lagarde
Central banks’ gold purchases falling sharply – WGC
World Gold Council says demand for gold-based ETFs has boosted prices
Covid-19 boosts gold’s appeal among reserve managers
Central banks say gold helps replace negative-yielding sovereign bonds; equities cement position in reserve portfolios
London court blocks Venezuelan government from using gold
Lawyers for Maduro regime say they will appeal over access to $1 billion store
BIS suspends dividend to prepare for further Covid-19 strains
BIS will not pay dividend for first time since 1950, as senior managers see further turbulence ahead
Iran’s race towards monetary policy reform faces high hurdle reality
The Majlis Research Center’s Tohid Atashbar says positive outcomes from the Iranian central bank’s fast-tracking of monetary policy reform – made in response to Covid-19 and US sanctions – may prove difficult to deliver
The complex art of reserve management
The coronavirus lockdown represents another inflection point for central banks seeking to optimise the management of their $12 trillion in FX reserves
Venezuela sues Bank of England over refusal to release gold
Authorities say they need $1 billion to fund response to Covid-19 crisis
CBRT battles external imbalance with dwindling reserves
Turkish central bank loses battle to keep lira under 7 as reserves shrink, but pressures may be easing
Swiss central bank reports record quarterly losses
SNB loses $39.1 billion as falls in equities wipe out gains on Swiss franc positions and gold holdings
Central banks’ gold buying falls sharply in crisis
New Fed facility may further reduce incentives to buy gold, Hungarian official says
Major economies already engaging in ‘currency wars’ – former IMF chief
De Larosière floats new commodity-based exchange rate regime; says “trust” is key to avoiding “beggar-thy-neighbour” policies
People: Trump nominates Shelton and Waller to Fed posts
Judy Shelton and Christopher Waller nominated as Fed governors; Kingsley Obiora in line to be Central Bank of Nigeria deputy; Jill Forde named BIS head of communications
Paul Volcker, 1927–2019
The Fed chair made his name battling inflation, and left his mark on independence and post-crisis financial regulations
A spotlight on IPSAS Draft 69
Proposed accounting guidance for specific instruments by the Public Sector Accounting Standards Board may have significant implications for central banks
Turkey and Russia continue expanding gold reserves
Central banks purchased 156 tonnes in third quarter of year, 38% less than a year earlier, WGC figures show
Strong global forces pushing some central banks to buy gold – analysts
Poland’s move and others pushed by negative rates, political uncertainty and changing monetary system, experts say
The roots of the new gold fever
The end of the Central Bank Gold Agreement could herald the return of gold as a key reserve asset