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Saturday, November 21, 2009 10:33 PM

Published 11/07/2009 by Yahoo! Canada

Sri Lanka buying gold to diversify reserves: bank

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COLOMBO (AFP) - Sri Lanka's central bank on Saturday said it has been buying gold to diversify its reserves amid volatile currency markets, days after India announced it had purchased 200 tonnes of the precious metal.

Central Bank assistant governor...

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Quotes

"We have been observing that prices of gold have been going up so we have been strategically buying gold over the past several months as part of a reserve management process of diversifying our portfolio" he told AFP

Sri Lanka buying gold to diversify reserves: bank [Yahoo! Canada - 11/07/2009]

...bank intended to "continue to buy it (gold) as a hedge against volatility in currency markets"

Sri Lanka buying gold to diversify reserves: bank [Yahoo! Canada - 11/07/2009]

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Sri Lanka buying gold to diversify reserves: bank