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Mix-Ansicht- Tanigaki will heimlich Dollar in Gold tauschen - off-shore-trader, 28.01.2004, 15:51
Tanigaki will heimlich Dollar in Gold tauschen
-->Japan says to cautiously consider gold in reserves
Reuters, 01.28.04, 7:49 AM ET
TOKYO, Jan 28 (Reuters) - Japanese Finance Minister Sadakazu Tanigaki said on Wednesday he wanted to carefully consider whether to change the weighting of gold in Japan's foreign reserves.
Tanigaki told a parliamentary committee he thought it necessary to take a standpoint of diversifying assets in Japan's foreign reserves, which are mostly made up of dollar-denominated assets.
Asked about gold, he said he would think about it carefully.
"There are various discussions about the positioning of gold in foreign reserves, even among...currency authorities," Tanigaki said.
"If I say something too simply, I think there could be a large effect on gold markets...so I would like to consider it carefully," he said.
Japan's official reserves amounted to a record high $673.529 billion at the end of December, up from $644.569 billion a month earlier, the Ministry of Finance said this month.
Included in that amount were gold stocks which stood at $10.241 billion at the end of December, up from $9.80 billion a month earlier.
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