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Monday, 2nd February 2004 (4630 views)

Changes to the weighting of Tokyo's gold reserves are by no means a sure thing, according to industry analysts.<BR/><BR/>Speculation that Japan might adjust the weighting of its gold reserves was fuelled last week when Finance Minister Sadakazu Tanigaki said the matter was under careful consideration.<BR/><BR/>Japan has an unusually balanced ratio between its gold reserves and its total foreign reserves base, with the country boasting comparatively low levels of the precious metal.<BR/><BR/>However, analysts have already been quick to play down the significance of Mr Tanigaki's comments.<BR/><BR/>One industry analyst quoted by Reuters said he did not believe there is “any serious concern among the authorities in Japan about the volume of the nation's gold reserves”.<BR/><BR/>Alluding to Japan's traditionally secretive approach to their gold reserves - with movements in the market rarely announced in advance - the analyst said he believed it unlikely changes would be made.

 

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