- Hong Kong Monetary Authority chief executive Eddie Yue Wai-man said the Exchange Fund is weighing a bigger allocation to gold and other precious metals, framing it as a diversification move aligned with the city's gold hub strategy.
- The fund will keep investing mainly in US dollar assets to support the Hong Kong dollar's peg to the US currency, even as it considers adding precious metals.
- No scale or timing for potential gold purchases was disclosed; gold currently accounts for only a small portion of the portfolio.
- The Exchange Fund held total assets of HK$4.463 trillion (US$569 billion) at the end of June, backing banknote issuance and defending the Hong Kong dollar against speculative attacks.
Quotes
“A larger allocation to precious metals could improve diversification and align with the city’s gold hub strategy, says HKMA’s Eddie Yue”