African central banks turn to gold for stability | Metals Mine

  • African central banks turn to gold for stability

    From global.chinadaily.com.cn

    In line with a growing trend across emerging markets, central banks in sub-Saharan Africa are accelerating gold accumulation efforts, as a hedge against perceived United States' macro instability and rising global geopolitical risks. While South Africa has historically maintained gold in its reserves, some sub-Saharan African countries are currently establishing domestic gold purchasing programs, capitalizing on abundant local gold deposits. Leading the trend is Ghana, which has launched its domestic gold purchasing program. The West African country has witnessed a surge in both the volume and the value of its gold ... (full story)

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