UBS Poll of Central Banks & Sovereign Wealth Funds…
This nugget comes from Peter Spina and GoldForecaster.com
UBS, in its annual poll of central bank and sovereign wealth funds found nearly a quarter of central banks believed gold would become the most important reserve asset in the next 25 years.
At its annual seminar for sovereign institutions, UBS surveyed more than 80 central bank reserve managers, sovereign wealth funds and multilateral institutions with more than $8,000 billion in assets. Asked what the most important reserve asset would be in 25 years, roughly half of polled officials chose the U.S. Dollar, but 22% pointed to gold. Bullion was the second most popular response, well above others such as Asian currencies or… the Euro.
Analysts also said Asia’s central banks, from India to the Philippines, were the most likely to buy gold. They added that central banks and, crucially, sovereign wealth funds in the Middle East were also keen on gold, although some bankers pointed out that sovereign wealth funds were more likely to be tactical buyers, seeking price appreciation, rather than strategic buyers seeking diversification and long-term security.