Serbia is bringing back its $6 billion gold reserve, stored abroad. Not a single ingot is left behind

The National Bank of Serbia intends to repatriate its entire gold reserve, which is estimated to be worth six billion dollars. The aim of the Belgrade authorities is to ensure financial security in times of crisis, reports the swedenherald.com portal, as cited by IPN.

Thus, Serbia becomes the first Western European country that will not keep any gold bars in the traditional centers of Switzerland, the United Kingdom, and the USA.

Serbia’s gold reserves amounted to 50.05 tonnes, with a market value of approximately 4.7 billion euros. Of the total foreign reserves, the precious metal accounts for 17.2%, according to Bloomberg data as of July 16th.

Serbia has been one of the most active gold buyers in Europe in recent years. Last year, the Serbian central bank added 3.2 tons of gold to its reserves, and since the beginning of this year, it has purchased over 2.3 tons of gold.

The largest gold reserves in the world are held by the USA, amounting to 8,133 tons. The USA is followed by Germany, Italy, France, Russia, and China. Among the buyers, Poland was the leader in gold acquisitions in 2024 – with 89.5 tons, followed by Turkey and India.

Source: https://ipn.md/