Hungary tripled gold reserves as central banks turn to buyers again

Bloomberg/Eddie Spence

Repost from 4-8-2021

Image of gold stacked in storage at the New York Federal Reserve

“Hungary tripled its gold reserves in one of the biggest purchases by a central bank in decades — the latest sign of governments turning to the precious metal as a safeguard of value.”

USAGOLD note: Hungary is one nation-state among many implementing gold acquisition programs. At this juncture, one would think that competition will be intense for any gold offering of size.

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