LONDON, June 11 (Reuters) - Central banks may be justified in increasing their gold holdings to 40-50 percent of their reserves, a senior executive of the industry-funded World Gold Council said on Thursday.
'Central banks are justified in having high gold weightings. They are justified in having a 40-50 percent weighting in gold,' Marcus Grubb, WGC's managing director of investment, research and marketing told delegates at a conference organised by ETF Securities.
He said the current macroeconomic environment supported gold buying: 'It is not only about the dollar, not only about diversification, but also about future inflation,' he said.
There were signs that a number of Asian central banks were adding to their gold reserves, he added.
Reporting by Jan Harvey; Editing by Peter Blackburn
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