Eastern European central banks fortify gold reserves amid rising geopolitical tensions

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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.

The sculpture, called “The Rumble,” depicts the central bank’s staff, which fled the Soviet military at the end of World War II on a train loaded with gold reserves to prevent it from falling into foreign hands.

The Hungarian central bank has boosted its gold stash by more than a 10th to 110 tons this year.

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Author / Journalist: Peter Laca, Agnieszka Barteczko & Misha Savic | Bloomberg

Category: BusinessStartups

Markets: PhilippinesChinaCzech RepublicIndiaJapanPolandUkraine

Topics: Country’s Reserves Metal Gold Purchases World Tons Bank Stockpile Year Central

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-11-28 @ 12:13:09 (12 hours ago)

News Timezone: GMT +8:00

News Source URL: businessmirror.com.ph

Language: English

Article Length: 935 words

Reading Time: 6 minutes read

Sentences: 33 lines

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Copyright Owner: © Business Mirror

News ID: 23919220

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