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The world’s biggest buyers of gold are now among East European central banks
Earlier this year, the Czech Republic’s central bank chief flew to London to have a look at a swelling stack of gold bars stored in the Bank of England’s concrete-encased vaults beneath Threadneedle Street. Ales Michl’s mission to inspect the precious metal held for the Czech National Bank was part of the governor’s stated ambition to double the country’s stockpile to 100 metric tons in the next three years. It’s increased fivefold since he took office in 2022 with an aim to diversify the bank’s reserves. “We need to reduce volatility,” Michl, who grew animated when queried on the subject, told ... (full story)
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- Posted: Nov 29, 2024 12:00am
- Submitted by:Category: Fundamental AnalysisComments: 0 / Views: 165
