The Central Bank of Ireland’s gold bullion reserves have surged to 9.5 metric tonnes as they diversify in order to protect against the risks posed by surging Inflation.
Ireland bought gold bullion bars stored in the Bank of England, for a fourth consecutive month in December 2021 as seen in the latest IMF data and once again unreported in Irish media.
The Central Bank of Ireland added another 0.7 metric tonnes, taking full-year net purchases to 3.5 tonnes and national gold reserves have risen to 9.5 tonnes which are about 4% of their total foreign exchange reserves.
The Irish institution added 1 metric tonne of gold in September 2021. This was Ireland’s first increase since 2008 when they added 0.5 metric tonnes.
Central Bank of Ireland Governor Gabriel Makhlouf warned in late November that policymakers cannot afford to be “complacent on inflation” and since then inflation has surged in Ireland, the Eurozone, and across the world.
f even the Central Bank of Ireland is diversifying and buying physical gold to protect from currency devaluations and inflation … Maybe the majority of savers, investors, companies, and family offices should also be diversifying into gold?
Full article on Health Wealth Gold here and information on how and who to buy and store gold with here
Source link
