Wednesday I was dismissive of the recall of Hong Kong's gold as significant, but it is another bit of evidence of a shift in central bank attitudes towards gold. Far more significant indicators include (see this MineWeb article):
- China's announcement that it had moved 454 tonnes of gold into its reserves since 2003
- Central Bank Gold Agreement (CBGA) quota being reduced from 500t to 400t a year
- Russia's Prime Minister stating that it should hold 10% of its reserve assets in gold (more)
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