2024-12-02 23:10:00
Geopolitical tensions and the economic crisis are driving demand for gold.This is especially true in Eastern Europe,where central banks are the biggest buyers.
For several months the yellow metal continued to rise. Considered the safe haven par excellence, gold is a stable asset in times of peace, but which appreciates in the event of an economic crisis, geopolitical tension or conflict. The yellow metal is currently worth 35% more than at the beginning of the year. Contributing to this surge were above all purchases by the central banks of Eastern European countries.
Poland increases its gold reserves
Monetary officials do not hide the fact that the search for a sense of security was their first motivation. In this region, particularly devastated during the Second World War, there is strong fear of the extension of the Ukrainian conflict. Starting with Poland. Neighboring Ukraine, this country which welcomed almost 2 million refugees on its territory, was the largest buyer of gold in the world in the second quarter, Selon World Gold Council.
at the beginning of October, the governor of the Polish central Bank, Adam Glapiński, did not hide his satisfaction when he announced that his country’s gold reserves had surpassed those of the United Kingdom. “We enter the exclusive club of the largest gold holders in the world”, the head of the national bank rejoiced. In the vaults of this institution currently rest 420 tons of gold, half of what India or Japan possess.
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The Czechs want to protect their economy from shocks
This state of mind is no less present on the part of the Czech Republic. Diversifying reserves and protecting the economy from unforeseen events is also the declared goal of the Czechs. The Central bank of Prague has increased its gold reserves fivefold since 2022. Its governor expects to reach 100 tons of gold in the next three years.
Followed by Hungarians and Serbs
Hungarians and Serbs follow this movement and buy with all their might. In 2021, the Serbian government repatriated the country’s gold reserves held abroad. And the governor of the Central Bank SerbiaJorgovanka Tabakovic has tripled gold reserves to 48 tons since taking office in 2012. Consequently, gold prices are rising. According to Goldman Sachs, the yellow metal coudl reach $3,000 by 2025.
Read alsoGold soared amid a sharp decline in US rates
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What are the key implications of artificial intelligence on job markets and employment trends?
Interview between Time.news Editor and Expert on Emerging digital Technology Trends
Editor: Welcome to Time.news,where we explore the latest and most impactful trends shaping our world today. I’m thrilled to be joined by Dr. Eva Sanchez, a renowned expert in digital technology and innovation. Dr. Sanchez, thank you for being here!
Dr. Sanchez: Thank you for having me! I’m excited to discuss some of the cutting-edge developments in our field.
Editor: Let’s dive in. The rapid evolution of digital technology seems overwhelming at times. What do you see as the most significant trend right now?
Dr. Sanchez: At the moment, I’d say artificial intelligence is at the forefront. It’s reshaping industries from healthcare to finance, allowing for unprecedented efficiencies and innovative solutions. The integration of AI in everyday applications is something we are all witnessing.
Editor: absolutely, AI has become a household term. Many people are both excited and apprehensive about it. What are some common misconceptions you encounter?
Dr. Sanchez: A primary misconception is that AI will take away jobs. While it’s true that automation may replace certain tasks, AI also creates new opportunities and roles that didn’t exist before. The key is to focus on reskilling and adapting our workforce to meet the changing demands.
Editor: That’s an crucial point. Reskilling will be essential. Moving on, I’ve noticed a growing interest in blockchain technology outside of cryptocurrencies. Can you share more about its potential?
Dr. Sanchez: Certainly! Blockchain offers immense potential in enhancing transparency and security in various sectors, such as supply chain management and voting systems. Its decentralized nature can definitely help build trust between parties who may not traditionally rely on each other.
Editor: Interesting! Speaking of trust, we cannot ignore the conversation around data privacy these days. How can technology and privacy coexist?
Dr. Sanchez: It’s a delicate balance. We’re seeing increasing pressure on companies to prioritize user privacy—regulations like GDPR are a direct response to this demand. Innovations like privacy-preserving technologies, including differential privacy and federated learning, are paving the way for a more secure digital experience.
Editor: those solutions sound promising. Before we wrap up, what advice would you give to individuals who want to stay ahead of the curve in this rapidly changing surroundings?
Dr. Sanchez: Continuous learning is vital. embrace curiosity and seek knowledge through various resources—online courses, webinars, or conferences. It’s also critically important to engage with the community.Networking with professionals in your field can provide insights and opportunities that you might not find on your own.
Editor: Great advice, Dr. Sanchez! Thank you for sharing your valuable insights with us today. It’s been a pleasure discussing these transformative technologies and their implications.
Dr. Sanchez: Thank you! It was a pleasure being here and sharing my thoughts on these crucial topics.
Editor: And to our audience, stay tuned for more engaging discussions on the latest trends shaping our world. Until next time!