First about gold – under the new management, NB wants to buy roughly 100 tons of gold. Czechia would then start building its gold treasure again and would eventually have the most gold in its history

esk nrodn banka by rda rozila dv zlat reserve piblin destinsobn, na vce ne 100 tun. M se tak stt how many let. In a daily interview for denk Prvo, Nov Gov. NB But Michael.

Do of gold he decided to invest widely like this, or vvoj the price precious metal m, according to him, has zero relation to the development of prices action. So according to the first action v devizovch rezervch
chce nov governor navit.

At the end of last summer, she had NB zlatem in a volume of 360 thousand troyske ounces. That’s roughly 11.2 tons.

If so
central bankjak zaml governor, navila sv zlat reserve roughly ten-seater, they can weigh 110 and 120 tons. Central bank she would thus own about 100 tons metal vce ne nyn.

thus, the Czech Republic would have by far the largest volume of gold throughout history.

At the end of the era of socialism, in August 1989, it was in possession of the Stn Bank of Slovakia with a total of 119 tons of gold. After the breakup of Slovakia, it had esk republic and roughly 65 tons metal. Between flights 1997 to 1999 se vak NB important things
of gold got rid of From 65 tons metal j so v reservch less than 14 tons left.

From time t, volume
zlatch reserve NB according to fell, and until May 2020, when he dreamed of less than eight tons. Since then I know NB gold it gradually buys up, in the range of their total units of tons.

if NB
Rozila Esk gold the treasure by about 100 tons, so it is a big step. In addition, a relatively small number. Not all of them central bank economically washed away the earth gold
v reservch May. Napklad Norway or You have dn gold don’t have You
Norway dv unequivocal priority action. esk devizov reserve are in pomor k HDP still one of the largest in the world, as well as the diversification of their main interests of gold makes no sense to me.

In the past ten let gold reviewed by dollar, in which the world is traded, by 12.7 percent, an average of 1.2 percent. After pepot until crowns managed to appreciate by seventeen percent, the year average by 1.6 percent. Pi average ron inflation in 2012 and 2021 the tajc in esk 2.1 percent knows it, e gold it did not represent the proverbial protection of inflac.

Standard actions investovn in the past ten years before the impacts inflation it didn’t stick much gold. Who, for example, under ten flights invested in the main index of such kodask shares stormhave yes to be divided pipisoval towards the end of the losk after pepot to crowns evaluated pesahajc 400 percent. Bucharest
storm yielded during that time in korunch own dividend roughly 370 percent.

Who invested in accordance with the main index American stocksStandard & Poors 500, ten ml s to be divided v korunch by the end of the year last year by 370 percent. Main index scratch the stock market, PXyielded for the past ten let i s to be divided
roughly 150 percent. esq real estate according to Eurostat evaluated between flights 2010
a 2021 by about one hundred percent.

Luk Kovanda, Ph.D.

Chief Economist, Trinity Bank