Italian government looks to raid central bank gold reserves
Budget amendment could see Bank of Italy liquidate 2,452 tonnes of bullion
The Italian government wants to return the Bank of Italy’s gold “to the state”.
Lucio Malan, a member of the Senate (upper house of parliament) for the governing Brothers of Italy party, submitted an amendment to the 2026 budget, which was scrutinised on November 26. The amendment states that “the gold reserves managed and held by the Bank of Italy belong to the state, in the name of the Italian people”.
With 2,452 tonnes of bullion, the Bank of Italy has one of the world’s largest gold reserves
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@centralbanking.com or view our subscription options here: subscriptions.centralbanking.com/subscribe
You are currently unable to print this content. Please contact info@centralbanking.com to find out more.
You are currently unable to copy this content. Please contact info@centralbanking.com to find out more.
Copyright Infopro Digital Limited. All rights reserved.
As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (point 2.4), printing is limited to a single copy.
If you would like to purchase additional rights please email info@centralbanking.com test test test
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (clause 2.4), an Authorised User may only make one copy of the materials for their own personal use. You must also comply with the restrictions in clause 2.5.
If you would like to purchase additional rights please email info@centralbanking.com test test test
More on Gold
ECB reminds Italian lawmaker: monetary financing by gold is illegal
European Central Bank says budget amendment’s purpose is “not clear”
Bank of Russia starts selling gold locally
Move is not a sign of budget crisis, experts say
Bolivia’s forward gold sales are legal workaround – expert
Central bank raises almost $600 million in hard currencies by committing to sell bullion at future date
Options for realising gold revaluations
Is monetary gold a special case in central bank revaluations accounting?
Central bank gold purchases rise in May
WGC says net purchases hit 20 tonnes as appetite among monetary authorities remains strong
Central banks boost gold buying to diversify reserves – survey
Monetary authorities expect dollar holdings to decline, WGC finds
Central bank gold buying slows in April
World Gold Council says higher prices may be behind reduced interest
NBP’s Juliusz Jabłecki on geopolitics, bitcoin and gold
Director of financial risk management department talks tactics versus strategy, operations following breakout of war in neighbouring Ukraine, FX interventions and independent risk-taking