Countries may have moved away from the gold standard but many central banks still hold significant reserves of this precious metal. Central banks are always looking to increase their gold and add millions worth of gold bullion to their reserves. If central banks are hoarding so much gold this begs the question why would banks hoard “non-yielding” asset instead of stocks and government bonds that generate regular interest and do not require a lot to store. It seems that gold is used by many countries as a security blanket and also as a way to show off their accumulated wealth.
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