Irish Central Bank Makes First Reserve Gold Purchases Since 2009
- Institution bought 2 tons of precious metal in recent months
- Move comes amid increasing concern about the inflation outlook
A selection of gold bars of various weights sit at Gold Investments Ltd. bullion dealers in this arranged photograph in London, U.K.
Photographer: Chris Ratcliffe/BloombergThis article is for subscribers only.
The Irish central bank has been adding to its gold reserves as inflation in the euro area runs far ahead of the European Central Bank target.
The Dublin-based institution’s purchase of 2 tons of gold in recent months has ended a more than decade-long period of unchanged holdings of the precious metal.