According to foreign media news, according to a survey of central banks and sovereign wealth funds released by Invesco on Monday, more and more countries are withdrawing gold reserves to prevent sanctions similar to those imposed by the West on Russia.
Last year’s rout in financial markets caused widespread losses to sovereign wealth funds, and fund managers are “fundamentally rethinking their strategies in the belief that high inflation and geopolitical tensions are here to stay.
Gold and emerging-market bonds are seen as good bets in this environment, but the Western freeze of nearly half of Russia’s $640 billion in gold and foreign exchange reserves after the escalation of the conflict between Russia and Ukraine last year also appears to have triggered a a transformation.