- Home
- Premium Memberships
- Lottery Results
- Forums
- Predictions
- Lottery Post Videos
- News
- Search Drawings
- Search Lottery Post
- Lottery Systems
- Lottery Charts
- Lottery Wheels
- Worldwide Jackpots
- Quick Picks
- On This Day in History
- Blogs
- Online Games
- Premium Features
- Contact Us
- Whitelist Lottery Post
- Rules
- Lottery Book Store
- Lottery Post Gift Shop
The time is now 7:31 am
You last visited
April 25, 2024, 4:55 am
All times shown are
Eastern Time (GMT-5:00)
Dutch Central Bank: pension fund must sell gold
Published:
http://www.bloomberg.com/news/2011-02-10/dutch-central-bank-pension-fund-must-sell-gold.html
AMSTERDAM (AP) — A pension fund in the Netherlands says the country's central bank has ordered it to sell its gold holdings because it is overexposed to a fall in the value of the yellow metal.
The Vereenigde Glasfabrieken pension fund said Thursday it wants to keep the gold but a Rotterdam court sided with the bank in a ruling Tuesday. The fund will now sell its gold holdings down from 13 percent of assets to 3 percent at most.
The fund began buying gold in 2008 due to concerns about inflation and the stability of the euro. It argued the investment has performed well since then, rising about 70 percent to around €1,000 per ounce.
The fund had €260 million in assets in December 2008, mostly in Dutch and German government bonds.
Comments
Post a Comment
Please Log In
To use this feature you must be logged into your Lottery Post account.
Not a member yet?
If you don't yet have a Lottery Post account, it's simple and free to create one! Just tap the Register button and after a quick process you'll be part of our lottery community.
Register