Campaign Against Gold Has Failed Says Central Bank Think-Tank

Campaign Against Gold Has Failed Says Central Bank Think-Tank

WHOLESALE gold bullion prices dipped back below $1670 an ounce Friday morning in London, 0.9% up on where it started the week, after jumping 1% yesterday following the European Central Bank‘s decision to leave interest rates on hold, which was also followed by gains for the Euro.

Silver meantime drifted back below $30.70 an ounce this morning, while stock markets were little changed and commodities edged lower along with US Treasury bond prices.

Gold bullion could form part of “an immensely important phase in the history of world money,” according to a report published today by the World Gold Council and produced by the Official Monetary and Financial Institutions Forum.

“Western economies have attempted to dismantle gold‘s monetary role,” the report says,”[but] this has failed.”

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