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Italy's tenacious stance on gold pays off as prices soar
Italy’s 2,452 metric tons of gold are valued at $300 billion, making up 75% of its official reserves and about 13% of its 2024 national output, analysts say.
- In recent years, Italy is enjoying a windfall as the Bank of Italy’s 2,452 metric tons of gold track record-high prices worth $300 billion.
- Italy's wartime experience saw Nazi forces aided by Italy’s fascist regime seize 120 tons, and by 1960 holdings climbed to 1,400 tons after recovering most bullion in 1958.
- At the end of last year, gold accounted for nearly 75% of Italy’s official reserves, and Rome used 41,300 ingots as collateral for a $2 billion loan from Germany’s Bundesbank in 1976.
- Calls to sell gold to reduce Italy's public debt, now over 3 trillion euros, continue but have not succeeded; Giacomo Chiorino said, `Selling even half of the gold holding would not solve Italy’s debt problem anyway.`
- Market shifts toward digital assets and gold as Bocconi’s Stefano Caselli said, `At a time when the world is being redrawn, market prices have reached unprecedented multiples and stablecoins and cryptocurrency are gaining ground, central banks currently hold the hottest asset.
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7 Articles
7 Articles
Italy's tenacious stance on gold pays off as prices soar
Italy, whose sovereign assets from bonds to banks have so often been the subject of market crises in recent years, is currently enjoying a windfall as the central bank's vast gold reserves track record-high prices.
·United Kingdom
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Total News Sources7
Leaning Left1Leaning Right1Center4Last UpdatedBias Distribution67% Center
Bias Distribution
- 67% of the sources are Center
67% Center
L 17%
C 67%
R 16%
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