Articles


  • Central Bank Gold Agreement No.4



    Friday, 10/10/2014 17:25
    “We, the undersigned, aren’t selling gold anyway. But just so you know…”
    In MAY 2014, the European Central Bank and 20 other European gold holders announced the signing of their fourth Central Bank Gold Agreement, writes Julian D.W.Phillips at GoldForecaster.
    This agreement, which applies as of 27 September 2014, will last for five years and the signatories have stated that they currently do not have any plans to sell significant amounts of gold.
    Collectively, at the end of 2013, central banks held around 30,500 tonnes of gold, which is approximately one-fifth of all the gold ever mined. Moreover, these holdings are highly concentrated in the advanced economies of Western Europe and North America, a statement that their gold reserves remained an important reserve asset, a statement made in each of the four agreements since then.
    After 29 years of implied threats that gold was moving away from being an important reserve asset and the potential sales of central bank gold the gold price had fallen to $275 down from $850 in 1985. But the sales that were seen were so small that with hindsight they were seen as only token gestures. Today the developed world’s central banks continue to hold around 80% or more of the gold they held in 1970.


    Read full article
  • Rabindra Kayastha

    Authorized Person for MEX NEPAL
    Mob: +977 9856030634

  • Pawan Dhakal

    Biratnagar Branch Manager
    Mob: +977 9852033934

  • Our Clearing Member

    Himalayan Commodity Brokers
  • Our Banking Partners

    Laxmi Bank
  • Bank of Kathmandu
  • Nepal Investment Bank Limited
  • Century Commercial Bank Limited