PRECIOUS METALS | Congo's Central Bank to Acquire Gold for Reserves

The Democratic Republic of Congo's central bank is set to start acquiring gold for its monetary reserves from a state-owned trader, according to an announcement made on Friday. Bloomberg posted on X, highlighting the strategic move aimed at bolstering the nation's financial stability. This decision marks a significant step in the country's efforts to diversify its reserve assets and strengthen its economic position. The central bank's initiative reflects a broader trend among nations seeking to enhance their monetary reserves with precious metals, particularly gold, which is often viewed as a safe haven asset. The acquisition process will involve collaboration with the state-owned trader, ensuring a streamlined and efficient approach to increasing the country's gold reserves. This development underscores the importance of gold in global financial systems and its role in supporting national economies.