Monday, 2nd February 2004 (3235 views)

Changes to the weighting of Tokyo's gold reserves are by no means a sure thing, according to industry analysts.

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.

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.

However, analysts have already been quick to play down the significance of Mr Tanigaki's comments.

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”.

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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