(Il Sole 24 Ore Radiocor) - Milano, 11 giu - Gold has become the world's second largest foreign reserve, overtaking the euro, due to purchases by central banks and higher gold prices, according to the European Central Bank (ECB).

"Central banks purchased more than 1,000 tonnes of gold in 2024, which is double the average annual amount seen in the previous decade. Global holdings of gold by central banks now stand at 36,000 tonnes, close to the all-time high of 38,000 tonnes reached in 1965 during the Bretton Woods era. With the price of gold reaching new highs, the share of gold in global foreign reserves at market prices, at 20%, surpassed the share of the euro (16%)," the ECB said.

Survey data suggest that two-thirds of central banks invested in gold for purposes of diversification, while two-fifths did so as protection against geopolitical risk, it.

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(RADIOCOR) 11-06-25 13:21:18 (0367) 5 NNNN