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Gold bars are stacked neatly on shelves in the vaults of the Bank of England in London. Net purchases by central banks were down 25 per cent in the first three quarters of 2013.
Gold bars are stacked neatly on shelves in the vaults of the Bank of England in London. Net purchases by central banks were down 25 per cent in the first three quarters of 2013.
(NewsCast/NewsCast)

Central bankers have golden opportunity to take heat off currencies

There are few better medicines for a struggling economy than a weakening of its currency – something that hasn’t gone unnoticed by central bankers. But even as the U.S. Federal Reserve talks down tapering and the European Central Bank cuts its policy rate, providing ample fuel for currency retreats in so doing, they must be aware that the gold market is working against their cause.