Bloomberg announced Serbia's intention to return all gold reserves to the country

The Central Bank of Serbia intends to return all its gold reserves worth about $6 billion to the country to ensure their safety during the crisis. This was reported by Bloomberg on July 24.

"By returning gold to the country, the National Bank of Serbia sought to increase the availability and security of gold reserves during periods of crisis and uncertainty," the agency quoted a statement from the central bank's press service.

It is noted that this step will allow Serbia to become the first Eastern European country that will not store gold in other countries, which traditionally have a gold reserve.

Sovereign gold: why Germany requires its metal reserves from the USA

The Germans have lost confidence in the Americans as the custodians of gold reserves

Earlier, on July 16, it was reported that Russia's international reserves in gold reached a record $248.7 billion in the first six months. It is noted that the growth of gold in international reserves occurs through two channels: through physical growth (when the Central Bank buys the metal and adds it to reserves) and due to an increase in the market price.

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