El Salvador Joins Gold Buying Trend, Increases Gold Reserves for the First Time Since 1990

Odaily Planet Daily reports that on September 5, the Central Bank of El Salvador announced the purchase of 13,999 ounces of gold, valued at $50 million. This increase raised its gold reserves from 44,106 ounces to 58,105 ounces, with an estimated value of $207.4 million. El Salvador stated that the gold purchase is part of the country's international reserve diversification strategy. The central bank of El Salvador expressed confidence in gold, viewing it as a global strategic asset. Previously, El Salvador had been focused on increasing its Bitcoin holdings. (Jin10)