Posted AT 1:00 PM EST on 04/10/08
Central banks favour gold amid credit crisis
LONDON — Sales of gold by European central banks are likely to be lower than expected over the next year as the global banking crisis boosts bullion's appeal as a “safe” reserve asset.
And banks elsewhere in the world, most notably in Asia and the Middle East, may even become buyers of gold in an attempt to diversify their reserves away from the U.S. dollar, analysts say.
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