🌉 Central banks are increasing their gold reserves and moving them out of the US
According to Fortune, central banks are increasingly reconsidering where they store their gold amid geopolitical tensions.
➖ France withdrew all its gold from the Federal Reserve Bank of New York.
➖ The Netherlands moved around 86 tonnes of gold from the US and Canada to London.
➖ Central banks’ gold purchases averaged around 1,000 tonnes annually over the past four years—twice the previous level.
The reason is a desire to reduce the risks of holding reserves abroad and ensure access to gold in times of crisis.
According to Fortune, central banks are increasingly reconsidering where they store their gold amid geopolitical tensions.
➖ France withdrew all its gold from the Federal Reserve Bank of New York.
➖ The Netherlands moved around 86 tonnes of gold from the US and Canada to London.
➖ Central banks’ gold purchases averaged around 1,000 tonnes annually over the past four years—twice the previous level.
The reason is a desire to reduce the risks of holding reserves abroad and ensure access to gold in times of crisis.