Mexico’s central bank is buying gold to obtain the “best risk-return balance” for its investments and won’t necessarily continue purchasing bullion this year, said Agustin Carstens, governor of the institution.
“We want to get the best risk-return balance in our investments,” Carstens said in an interview with Bloomberg Television in Helsinki today. “Given the performance gold has had in the recent past, it turns out it would allow us to have a higher return without much risk.”
The bank bought 100 tons of gold in recent months, accounting for 4 percent of international reserves, according to a statement e-mailed on May 4. The institution is “so far happy” with the purchases, Carstens said.
To contact the reporter on this story: Laura Price in London at firstname.lastname@example.org
To contact the editor responsible for this story: Joshua Goodman at email@example.com