You are here
Eastern European central banks are now among biggest buyers of gold
By Peter Laca
Bloomberg News
Thursday, November 28, 2024
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.
The mission of the cntral banker, Ales Michl, 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 has increased fivefold since he took office in 2022 with an aim to diversify the bank's reserves.
... Dispatch continues below ...
... ADVERTISEMENT ...
Fisher Precious Metals offers great prices
with personal service from a family team
Family-owned and operated Fisher Precious Metals is a great low-cost source for precious metals -- coins, rounds, and bars. But we also get you the highest prices available when you sell your precious metals.
Expect a personal approach with Fisher Precious Metals. You can always speak directly with the owners within 24 hours if not immediately. We provide you a team you can get to know and call at any time to discuss your investments with no pressure to buy.
Check our Google reviews to see what our clients have to say:
https://g.page/FisherPreciousMetals?share
Contact us at 1-800-390-8576 or Info@FisherPM.com or visit us here:
https://fisherpreciousmetals.com/
"We need to reduce volatility," Michl, who grew animated when queried on the subject, told Bloomberg Television this month. "And for that we need an asset with zero correlation to stocks, and that asset is gold."
The Czech policymaker isn't alone in accelerating bullion purchases. Peers from Warsaw to Belgrade are joining the gold rush as a way to diversify investments and bet on price increases, making eastern Europe one of the biggest buyers of the metal and helping to drive the gold rally. ...
... For the remainder of the report:
* * *
Support GATA by purchasing
Stuart Englert's "Rigged"
"Rigged" is a concise explanation of government's currency market rigging policy and extensively credits GATA's work exposing it. Ten percent of sales proceeds are contributed to GATA. Buy a copy for $14.99 through Amazon:
* * *
Help keep GATA going:
GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at:
To contribute to GATA, please visit:
