Taiwan Reaches Into Its Gold Reserves to Make Inauguration Coins
- ‘We will buy the gold back,’ central bank official Shih says
- Bullion holdings have been largely stable for more than decade
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As Taiwan prepares for an election next month, its gold reserves have been drawn down to make presidential inauguration coins.
The holdings fell to 13.58 million ounces in October from 13.62 million a month earlier, a level it’s held for most of the time since 2003, according to data on the central bank’s website. Polling is set for Jan. 11, with inauguration on May 20.