Different countries have begun strategically accumulating significant gold reserves as a means to ensure financial stability.
Possessing gold enables nations to strengthen their economic position and safeguard against fluctuations in currency exchange rates. Moreover, having gold reserves enhances trust in a country from international partners and investors, contributing to economic growth.
The central banks of Russia, India, and China lead the rankings of countries acquiring gold in the 2022-2023 and 2023-2024 fiscal years.
In particular, China added 103 metric tons of gold to its reserves in the year 2023. India and Russia are also increasing their gold holdings.
The National Bank of Poland and the Central Bank of Turkey have also increased their reserves by 14 and 11 tons respectively.