Thoughful post Peter.Gold definitely has a place in a Central...

Thoughful post Peter.

Gold definitely has a place in a Central Banks reserves. But these reserves should be viewed as an investment portfolio, and not a collateral base for the local currency.
Gold should be part of a diversified range of exposures.

Having too much gold could cause massive instability in an economy where the Central Bank is "over weight" gold and the POG dives south.

Cheers