Global Tensions Drive Central Banks to Stockpile Gold for Economic Stability

Central banks from Mexico, Mongolia, and the Czech Republic are increasing their gold reserves in response to growing geopolitical tensions and economic uncertainty.

At the annual London Bullion Market Association conference, officials highlighted gold’s role as a safe haven amid low interest rates and rising risks. This trend has contributed to a 25% surge in gold prices in 2024, as central banks seek to hedge against global instability by boosting their gold holdings, which have outperformed both U.S. equities and bonds this year.

Clever Robot News Desk 17^th October 2024