You are here

Tiny Asian nation hoards gold as shield against trade war

Section: Daily Dispatches

By Evgenia Pismennaya and Anna Andrianova
Bloomberg News
Tuesday, June 19, 2018

What do you do when your two biggest trading partners are embroiled in economic standoffs with the United States? You buy as much gold as you possibly can.

At least that's what Kyrgyzstan's central bank is doing in a bid to protect itself from currency volatility in China and Russia. The central Asian nation hopes to grow the share of gold in its $2 billion international reserves to 50 percent from around 16 percent now.

"The rules of the game are changing," Kyrgyz central bank Governor Tolkunbek Abdygulov, 42, said in an interview in the capital, Bishkek. "It doesn't matter what currencies we have in our reserves -- dollars, yuan, or rubles all make us vulnerable." ...

... For the remainder of the report:

https://www.bloomberg.com/news/articles/2018-06-20/tiny-asian-nation-hoa...



ADVERTISEMENT

We Are Amid the Biggest Financial Bubble in History;
When It Bursts, Bullion Owned in the Safest Way Will Protect Wealth

With GoldCore you can own allocated -- and most importantly -- segregated coins and bars in Switzerland, Singapore, and Hong Kong.

Switzerland, Singapore, and Hong Kong remain extremely safe jurisdictions for storing bullion. Avoid exchange-traded funds and digital gold providers where you are a price taker. Ensure that you are outright legal owner of your bullion. If you do not own segregated bullion that you can visit, inspect, and take delivery of, you are exposed.

Crucial guides to storage in Singapore and Switzerland can be read here:

http://info.goldcore.com/essential-guide-to-storing-gold-in-singapore

http://info.goldcore.com/essential-guide-to-storing-gold-in-switzerland

GoldCore does not report transactions to any authority. Safety, privacy, and confidentiality are paramount when we are entrusted with storage of our clients' precious metals.

Email the GoldCore team at info@goldcore.com or call our trading desk:

UK: +44(0)203-086-9200. U.S.: +1-302-635-1160. International: +353(0)1-632-5010.

Visit us at: http://www.goldcore.com



Join GATA here:

New Orleans Investment Conference
Hilton New Orleans Riverside Hotel
Thursday-Sunday, November 1-4, 2018
https://neworleansconference.com/

* * *

Help keep GATA going

GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at:

http://www.gata.org

To contribute to GATA, please visit:

http://www.gata.org/node/16