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How many gold reserves does the Bank of Albania currently have?

Politiko 2024-12-01 14:56:16

How many gold reserves does the Bank of Albania currently have?

The gold reserve in the Bank of Albania has reached the value of 277.71 million euros.

According to the official data of the Bank of Albania, the total value of the yellow metal during the last month has increased by about 20 million euros compared to the month of August.

This constitutes the highest value throughout its history in the Central Bank of the country

This increase has come as a result of increasing its value in international markets, after the conflicts that are happening in the Middle East.

Currently, an ounce of gold is traded at an average of $2,653 on foreign markets. This is because the yellow metal is always considered a safe asset in times of financial uncertainty.

Gold plays a very important role in a country's economy, the most important of which is protection against financial instability.

During periods of economic uncertainty or financial crisis, investors often turn to gold as a safe haven asset.

The value of gold tends to rise when other investments, such as stocks or currencies, are performing poorly. This happens because gold is seen as a stable asset, which maintains its value even in troubled economic conditions./SCAN

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