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Message: Re: CNBC gold quotes out of whack again

Re: CNBC gold quotes out of whack again

posted on Jan 22, 2010 09:59AM

Jan 21: Russia’s central bank announced on Wednesday it had started buying Canadian dollars and securities in a bid to diversify its forex reserves. Analysts said the move could herald growing diversification of emerging market central bank assets away from the dollar and into other commodity-linked currencies and assets, such as the Australian dollar. Russia’s forex reserves, the world’s third largest, stood at $439bn in December and were evenly split between dollars and euros.

Not sure why these currencies r falling after this announcement.

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