The Golden Global Reserve Holds Euro as an Asset, ECB says

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According to the European Central Bank, the second most important reserve asset for the world’s central banks, the European Central Bank has exceeded the euro as the second most important reserve asset for record purchases and growing prices.

Last year, 20 percent of global official reserves organized bullion, 16 percent of the euro and 46 percent of the second 46 percent, a ECB report published on Wednesday.

“Central banks continued to collect gold at a pace,” ECB wrote, over the third year in 2024, more than 1,000 tons of gold in 2024, in the decade of 2010.

Stock gold The postwar Bretton Woods, which is held by Central Banks in the world, approaches the historical heights of the period. Until 1971, global exchange rate rates were assigned to US dollars, which in turn can become a stable exchange rate gold.

In the mid-1960s, the Central Bank, which reached 38,000 tons, will reach 36,000 tons in 2024 compared to the latest ECB numbers. “World-in-world-world banks are now kept almost gold, as in 1965,” he said.

According to the Gold Council of the World, Last year, large buyers include India, China, Turkey and Poland.

Last year, a 30 percent increase in gold price, global foreign resources was a factor behind the growth in the share of gold. Since the beginning of the year, the gold price was another 27 percent, The date is high than $ 3,500 According to Troy ounce.

“This reserve, along with high prices, in 2024, market prices made the second largest global reserve asset with market prices after the US dollar,” he said.

Although gold does not show interest and is expensive to maintain, high liquid is estimated as the last safe asset or end-safe asset exposed to the risk and sanctions.

In recent years, central banks also tried to move away from US dollars in the context of geopolitical instability and concerns about US debt levels. The DEURE TENDI, especially among the developing countries, when Russia aims to access Russia’s financial markets, especially between developing countries.

“The gold demand for money, in 2022, Russia remained sharply after the full-scale occupation of Ukraine,” he said.

“Since 1999, five of the 10 largest annual growth in foreign reserves faced sanctions in the same year or previous year since the same year,” said, “countries close to China and Russia in the last three years.

Last year, 57 central banks between the Central Bank also said that concerns about sanctions, the expected changes in sanctions, the expected changes in the global monetary system and less dependent on US dollar.

Moreover, gold, when the real productivity of other assets has increased, this has long been to the investors, which has been in gold since early 2022 hedge of inflation, long-lasting correlation.

ECB has increased gold supply in recent decades during high prices: “If there is any guide, the gold reserves may support the further growing global gold supply in the formal demand.”