GOLD RESERVES AND THE GLOBAL FINANCIAL CRISIS
Elena Stavrova ()
Economics and Management, 2011, vol. 7, issue 4, 15-22
The dynamic transactions between investors in gold-seekers of their money in a volatile market and depreciating currencies caused fever in international markets and led to a further increase in gold prices to new heights missed. Driving in the past, held up as one of the factors responsible for the opening of the American continent, now investors monitor changing market quotations of gold. This inevitably raises the question whether we are witnessing another price bubble as unstable level (whether positive or negative) of an asset, currency or commodity to its true value. The question produced its dominant sound in the background of huge government debt of countries with substantial gold reserves, jeopardized economic growth and stability of the euro area and global finance as a whole. Get historical place of gold as an object of exchange, factors affecting demand and increased its importance as an investment tool for central banks and governments is the purpose of this paper.
Keywords: gold reserves; gold standard; government debts; reserves convertibility (search for similar items in EconPapers)
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Persistent link: https://EconPapers.repec.org/RePEc:neo:journl:v:11:y:2011:i:4:p:15-22
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