Business Irish

Wednesday 7 December 2016

National pot of gold drops

Published 28/08/2011 | 05:00

THE value of Ireland's €220m national gold reserves fell by at least €20m last week after gold prices fell 10 per cent.

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The plunge in the gold price -- the biggest in about three years -- followed speculation that financial markets may be stabilising. Gold came under increased focus last week after the German Minister Ursula von der Leyen called for countries to put up gold as security for bailouts.

Finland is also insisting on collateral for bailout loans to Greece -- though its preference is thought to be cash.

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