Thursday, June 28, 2012

The PF Keys still in working order at the RBA

The following is a recent email conversation I had with the Reserve Bank of Australia (RBA). Note the RBA holds approx. 80 tonnes of Gold as part of its reserves (marking Australia's the 36th largest sovereign gold holdings), and has done since selling 167 tonnes of Gold in 1997 at the bargain price of an average of US$320/oz. My previous email conversation (different PF key response) is here

To: RBAInfo
Subject: Will RBA increase gold reserves?

I was wondering with the recent decline in gold prices if the RBA was considering adding to their gold reserves, such as other prudent central banks are currently doing (China and Russia come to mind)? You could swap those fiat SDRs you are holding for a tangible asset, wouldn't that be prudent in this time of bank runs and sovereign risk?

Thank you for your email.

The Reserve Bank of Australia does not comment on its investment management decisions, other than in its Annual Report (please scroll down to the ‘Reserves Management’ section).

1 comment:

  1. Its none of your business what the PRIVATE RBA company has, owned by the banking cartel of the world.
    Just appreciate what the RBA has given us, Paper money, and they were generous enough to allow the government to give us coins. The coins are way too expensive for the RBA to produce.