Central banks voice support for gold reserves

Gesara.news » » Central banks voice support for gold reserves

Share via:

Date: October 15, 2024

At the London Bullion Market Association's annual conference in Miami, representatives from three central banks voiced support for increasing gold reserves.
Central banks are eager to diversify their holdings, citing financial and strategic reasons.
With rising inflation, geopolitical tensions, and economic uncertainty, gold is seen as a hedge against risk.
By boosting gold reserves, central banks aim to strengthen their balance sheets and reduce reliance on foreign currencies like the US dollar, signaling a collective shift toward prioritizing gold as a key asset.

Syria in secret negotiations with Israel for peace deal

Syria is widely believed to be in secret talks with Israel for peace deal.
A widespread belief has emerged recently in diplomatic corridors about the presence of secret negotiations between Israel and Syria, the London-based Asharq Al-Awsat newspaper reported Sunday.
Sources:www.israelnationalnews.com, worldisraelnews.com

Space Force launches Orbital Prime program

Space Force launches 'Orbital Prime' program to spur the market for on-orbit services.
Orbital Prime launches to spur government and private investment in on-orbit servicing, assembly, and manufacturing (OSAM) technologies.
Sources: spacenews.com

The Central Bank of China Extends Gold Buying

China Extends Gold Buying With Fresh Flows to Central Bank.
The People's Bank of China raised its holdings by 30 tons in December, according to data on its website on Saturday.
This follows November's addition of 32 tons, and brings the nation's holdings to a total of 2,010 tons.
Sources: bloomberg

Islamic finance embraces fintech with gold-backed debit card

Wahed opens London office, launches gold-backed debit card for Muslims.
Gold-backed debit cards and wealth management offers a form of banking that is free from interest, speculation, and inflationary currencies.
Source: finance.yahoo

Turkey adopted Russia's Mir cards

Turkish Banks Are Adopting Russian Payments System, Erdogan Says.
Five Turkish banks have adopted Russia's Mir payments system, Turkey's President Recep Tayyip Erdogan said on his return from talks with President Vladimir Putin in the Black Sea resort of Sochi.
There are serious developments regarding the work that Turkish banks are doing on Russia's Mir card, Turkey's state-run Anadolu Agency cited Erdogan as saying on the plane.
Sources: alarabiya.net