Hungary brings gold reserves back home

 

The National Bank of Hungary on Tuesday announced the return to Budapest from London of the country's 100,000 ounces of gold reserves.

The central bank’s management decided that keeping the gold reserves in the country could further strengthen market confidence in Hungary.

 

The roughly three tonnes of gold have a market value of 130 million dollars.

 

The NBH noted that a number of central banks in Europe, such as those in the Netherlands, German and Austria, had recently decided to bring home part of their gold reserves.