Gold is a good diversification strategy for central banks – Nagel
Geopolitical and credit risks strengthen case for bullion as reserve asset, says Bundesbank president
Heightened geopolitical risks are strengthening the case for central banks to diversify into gold, the president of the Deutsche Bundesbank has said.
In a speech at the Global Precious Metals Conference in Sorrento on October 5, Joachim Nagel said gold had often functioned as a haven asset during periods of economic stress. He added that geopolitics had been a growing concern for reserve managers since the late 2010s, and the increased use of financial sanctions in recent years appeared to be an
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