Bloomberg/Gordana Filipovic/11-14-2019
“The acquisition is the latest in a series of moves by Serbia to shore up its financial stability by changing the structure of its foreign debt and increasing the share of dinars and euros, Tabakovic said. The central bank paid 395 million euros ($434.3 million) for the gold, $1,503 an ounce, the governor said.”
USAGOLD note: Central banks buy gold for the same reasons ordinary people buy gold – as a means to long term asset preservation.
