What Gold Volatility, Stanley Fischer, and CBDC Can Tell Us About What Lies Ahead – Investment Watch
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Один украинский воин погиб, еще четверо получили ранения на Донбассе
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Central Banks May Ramp Up Gold Buying – Investment Watch
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by Tyler Durden
Submitted by Ronan Manly, BullionStar.com
The central bank of Hungary, the Magyar Nemzeti Bank (MNB), has just announced a purchase of a massive 63 tonnes of Good Delivery gold bars, and in doing so tripled the nation’s gold holdings from 31.5 tonnes to 94.5 tonnes.
In its press release about the huge transaction, published 7 April, the Hungarian central bank explains its rationale for the dramatic purchase of what is approximately 5040 large (400 oz) gold bars, highlighting that gold has no credit risk and no counterparty risk, and so reinforces sovereign trust over all economic environments (normal and extreme), while being one of the most crucial reserve assets that a central bank can hold.