South Korean central bank looks to gold

Central banks are quickly waking up to the fact that gold is a currency.

The other epiphany is that this time gold will, as always, be prone to reactions at key points, but this is no repeat of 1980 for reasons I have told you many times.

Jim Sinclair

Jim,

It’s also becoming politically acceptable to recognize gold as currency now. One can fight the trend for only so long before judgment is questioned.

And, yes, gold will be prone to reactions. As I have written many times before, when TIME is right price will follow.

Regards,

Eric

South Korea, holder of the world’s fifth-biggest foreign exchange reserves, is considering buying gold to diversify its dollar-heavy portfolio, the country’s central bank said, adding it would be cautious in making any final decision.

Source: ft.com