Countries began to return their gold reserves against the backdrop of sanctions against Russia

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Sovereign funds are reviewing their strategies, expecting higher inflation and geopolitical tensions to persist, the agency writes. According to the poll, a “significant proportion” of central banks are concerned about the precedent of blocking Russian gold and foreign exchange reserves in 2022. Nearly 60% of respondents noted that the situation made gold a “more attractive” asset. At the same time, 68% of respondents said they prefer to keep reserves in their country (vs. 50% in 2020).

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