More and more countries are repatriating gold reserves as protection against the sort of sanctions imposed by the West on Russia, according to an Invesco survey of central bank and sovereign wealth funds published Monday.
Financial markets last year caused widespread losses for sovereign money managers who are “fundamentally” rethinking their strategies in the face of inflation and political instability.
Over 85% of sovereign wealth funds and central banks believe that inflation will now be higher in the coming decade than in the last.
Gold is seen as a good bet in that environment.
