Serbia is the leader in the region in terms of gold reserves, according to the data of the World Gold Council.
According to the data of the National Bank of Serbia, since 2013, gold reserves have increased in quantity by 20.7 tons, ie they have more than doubled, and in value by 1.1 billion euros.
In the last two years alone, reserves have increased by 12 tons of gold – nine tons were bought in October 2019, and three tons were bought in November 2020.
Gold in Serbia also represents foreign exchange reserves, and according to the data of the National Bank of Serbia, the share of gold in foreign exchange reserves currently amounts to 12 percent of total reserves.
This precious metal also serves as a guarantee of trust in the central bank, especially in challenging times.
Serbia has 36 tons of gold, Croatia has sold gold reserves.
Serbia owns 36 tons of precious metal, the second place in the Balkans is Northern Macedonia, which has 6.8 tons of gold reserves, followed by Slovenia with 3.17 tons, BiH with 2.98 tons, and Montenegro with 1.09 tons.
In last place is Croatia, which sold all its gold reserves in 2001.
Montenegrin gold reserves, which were inherited from the former SFRY, have not been increased by a gram and are not in the country, but are pledged for a loan.
Hungary became one of the three countries with the largest gold reserves in Central and Eastern Europe after tripling reserves to 94.5 tons in March.
The Central Bank of Hungary states that the increase in gold reserves is a continuation of the long-term strategy adopted in 2018, when gold reserves were increased tenfold, from 3.1 tons to 31.5 tons, after which they remained at that level for more than two years.
Analysts state that this precious metal serves as a form of protection against inflation in the long run, and now increased purchases can be linked to the corona crisis.
The international rating agency Fitch predicts that the price of gold will fall from 1,734 to 1,600 dollars per ounce this year, and in 2022 it will decrease to 1,400 dollars due to increased demand due to investment flows and purchases from the central bank.
The price of an ounce of gold on Friday, April 9, was 1,741.20 dollars, N1 reports.
