https://swentr.site/india/627189-india-rushes-to-reclaim-gold/One of the main reasons for repatriating gold is due to G7 nations freezing Russia’s foreign exchange reserves after the escalation of the Ukraine conflict.
Ritesh Jain, founder of investment firm Pinetree Macro, told the Economic Times. “In this new era, if you don't have custody of your gold, it's not truly yours,” Jain stated.
They relocated 200 tons from the UK to India.
>In view of Hungary’s long-term national and economic strategy goals, the Magyar Nemzeti Bank has decided to increase the country’s gold reserves from 94.5 tonnes to 110 tonnes. The growing momentum of the global economic, geopolitical and capital market trends that have led to the appreciation of the role of gold in recent years have contributed to the decision to increase gold reserves. Amid increasing uncertainty in the global economy, the role of gold as a safe haven asset and a store of value is of particular importance, as it enhances confidence in the country and supports financial stability. Gold continues to be one of the most important reserve assets globally, as evidenced by the significant purchases of gold by central banks in recent years. Following the increase in its gold reserves, Hungary has the highest gold reserves per capita in the Central and Eastern European region.
This is probably leading to WWIII