Research On The Gold As International Reserves

As one of the main form of international reserves, gold reserves has special function on stabling the national economy, resisting inflation, improving international credit, etc. Gold is still the fifth largest hard currency internationally accepted after the dollar, euro, pound and yen. Along with the dollar exchange rate falling since the beginning of the21st century, gold as an international reserve gets more and more favorite by all countries. Global central banks became net buyers of gold since2010and bought534.6tons’gold in2012, setting a highest record since1964. Gold reserve of China has remained at the levels of1054tons since2009and China is the world’s fifth largest gold reserves countries currently. But compared to our country’s economic status and high foreign exchange reserves, the total amount of gold reserves still seemed very small, accounting for only3.35%of total official gold reserves all over the world. While gold reserves accounts for less than2%of foreign exchange reserves in China, which is far lower than the world average. So it is very imperative to reduce the dollar-based foreign exchange reserves and increase gold reserves.China should seize and take full advantage of the opportunity, increase in the proportion of gold reserves in foreign exchange structure by plan and step, optimize the structure of international reserves, increase the ability to resist risks of financial system and seek diversification of international reserves. It should also be to regulate the operation of the gold market, improvement and innovation varieties of gold trading, intensify gold mining, improve the level of gold use, take private gold reserves and national gold reserves combined mode, reduce the cost of the custody of the gold reserves, increase national resistance to risks and emergencies, play the role of gold in international reserves better.