After the introduction of sanctions against Russia by Western countries, more and more countries began to return their gold reserves. In this respect informs Reuters cites data from an American investment firm Invesco’s survey of central banks and sovereign wealth funds.
More than 85% of 85 government funds and 57 central banks believe inflation will be higher in the next decade than in the past, according to the survey. The West’s freezing of nearly half of Russia’s $640 billion foreign exchange reserves last year set a precedent that worries many central banks.
At the same time, 60% of respondents felt that the precedent created by the West only increased the attractiveness of gold. Also this year, 68% of respondents said they have started storing gold at home. But in 2020, 50% of those surveyed held gold reserves.
The publication reported that the difficult geopolitical situation has caused some central banks to return gold holdings to their countries to hold them as a safe-haven asset. Moreover, 80% of respondents believe that geopolitical tensions will be the main risk in the next decade.
April 22 The Epoch Times WroteHe said China’s central bank has increased its gold reserves in the past five months while reducing US bonds.
Previously reportedWorld central banks bought record volumes of gold in the first quarter.