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Bundesbank's Nagel Backs Central Banks Buying More Gold

Original: Nagel Sees Good Case for Central-Bank Diversification Into Gold

Bundesbank President Joachim Nagel said there is a good case for central banks to diversify their reserves into gold, adding to the debate over institutions shifting away from dollar assets. His comments come as gold purchases by central banks have surged globally in recent years, driven by reserve managers seeking to reduce reliance on any single currency. Markets are watching whether such endorsements signal further official demand for the metal.

Why now: Central-bank gold buying and reserve diversification are hot topics amid questions about the dollar's dominance.

Joachim NagelDeutsche Bundesbankgold

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Evidence

• Nagel Sees Good Case for Central-Bank Diversification Into Gold · Bloomberg.com
• Nagel Sees Good Case for Central-Bank Diversification Into Gold · Bloomberg.com

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