Hungarian Central Bank purchased gold for the first time since 1986

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Over the past two weeks, the Central Bank of Hungary has acquired 28 tons 400 kilograms of gold in the amount of $1 billion 250 million. For a long time since 1986, the Hungarian regulator did not make purchases of this precious metal. Thanks to recent acquisitions, its international gold reserves increased 10 times in volume. Now the share of gold reserves in the total volume of international reserves of the bank was 4.4%. By this step, the Central Bank seeks to strengthen confidence in the Hungarian market and maintain financial stability in the country. Thanks to the latest purchases, the Central Bank of Hungary has become the second in the world in terms of the volume of deals with gold after the Russian Central Bank.

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