-Central banks lose as gold plummets.
Global Banking News - 17 April 2013
Central banks around the world have lost money as gold prices have dropped globally.
Investors are said to be dumping gold funds in favour of equities, and so far the slump in prices is believed to have wiped out USD560bn from the value of central bank reserves.
Exchange-traded products linked to gold have dropped USD37.2bn in 2013, and central banks were among the biggest losers.
[Editorial queries for this story should be sent to email@example.com]
((Distributed via M2 Communications - http://www.m2.com))