By: Central News Agency
The face value of the gold reserves held by Taiwan’s central bank has dropped by nearly NT$380 billion (US$11.68 billion) amid falling global gold prices, but the nation’s foreign exchange reserves remain at a record high.
With the U.S. dollar strengthening, the price of gold has fallen to around US$1,076 per ounce in New York, the lowest in six years.
When compared with the peak price of US$1,920 per ounce in September 2011, it means that the value of the gold reserves at the Central Bank of the Republic of China (CBC) has declined by nearly NT$380 billion.
However, Taiwan’s foreign exchange reserves at the end of the October were US$426.774 billion, up US$449 million from September, according to the CBC. [FULL STORY]