Old but Gold: Can the Dinar Make a Comeback?

Old but Gold: Can the Dinar Make a Comeback?

  • 26 April 2013
  • Islamic Finance

During the course of history, gold has been used as a hedge against extreme events and crises, which is very valuable given the considerable uncertainties that are faced in the global economy. Investors seem to think that the acquisition of gold may help protect them against market downturns. Does this suggest that a return to a monetary gold standard may be sensible?

Since 2012, central banks all around the world have switched from being net sellers to becoming net buyers of gold. This trend has been on-going for the past few years and it does not look as though it will change. As at the end of 2012, the sector purchase level was at its highest for almost half a century. In 4Q12 alone, central banks across the globe bought 145.0 tonnes (t) of gold, making the annual total of 534.6t, the greatest level of demand since 1964.

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Industry: 
Islamic Finance
Tags: 
Gold, Dinar, Islamic Finance

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