Relevant:
- Confidential IMF Report Shows Central Bankers Quashed Gold Reporting Rules
- World Gold Council Acknowledges Central Banks Acquiring Gold As Reserve Asset Again
- Central banks boosted gold holdings in April amid plummets in price
- Gold reentering monetary system
- Turkey, Russia raise gold reserves in July as prices climb
2013-03-16 — forbes.com
A New York-based consultancy says the outcome of Turkey's move 1 ½ years ago to allow commercial banks to count gold deposits toward their reserve requirements potentially could be emulated by other central banks, and if so, would mean a further "renaissance" or "rehabilitation" of gold as a monetary asset.
The end result of the Turkish rules has been to free up lending to support the economy at a time when many other countries are struggling to get banks to provide funds to borrowers, the consultancy said.
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