Central Banks Buying Gold
Asia’s central banks seem have started to diversify their foreign-exchange reserves by buying gold. In the video clip below, Wall Street Journal economics reporter Alex Frangos speaks to the Heard on the Street Asia editor Mohammed Hadi about the potential demand for the yellow metal.
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The US debt in the hands of foreign governments is 25% of the total, virtually double the 1988 figure of 13%. Despite the declining willingness of foreign investors to continue investing in US-dollar–denominated instruments as the US Dollar has fallen in 2007, the U.S. Treasury statistics indicate that, at the end of 2006, foreigners held 44% of federal debt held by the public. About 66% of that 44% was held by the central banks of other countries, in particular the central banks of Japan and China. In total, lenders from Japan and China held 47% of the foreign-owned debt.
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