Nevertheless gold's role continued after the second world war. This peg came under pressure in the late 1960s and was effectively abandoned in 1968, with the link formally broken in 1971. Gold seemed a safe haven among the turbulence. While its price has fluctuated at times, gold has maintained its real value in the long-term. Similar graphs can be produced for the USA and France.
Gold is no one's liability.
It is not directly affected by the policy actions of any individual country and it cannot be repudiated or frozen as can be the case for foreign securities. To minimise risk in any portfolio, including one containing reserve assets, it is sensible to diversify. Studies show that returns on gold are negatively correlated with returns on most other instruments held as reserve assets making it particularly useful in this regard. Gold can be used as security against loans if countries find themselves in balance of payments difficulties and need to borrow on the international capital markets. When all else fails gold is still there and will still be marketable.