Just to up gold as a share of forex reserves to 5% – compared to 70% in developed economies – central banks in emerging markets need to buy 8,000 tonnes.
At its centre will be a shift of emphasis away from trade with the advanced nations, whose prospects are bound to subside towards their level of economic growth.
Mali, Papa New Guinea, Burkina Faso, Guinea, Tanzania, DRC and Mongolia among countries where gold mining contributed the most to their locals economies, says the World Gold Council.