African nations are speeding to construct their gold reserves to hedge in opposition to geopolitical tensions which have battered their currencies and fanned inflation.
Nations from South Sudan, Zimbabwe and Nigeria have both taken steps to shore up their holdings or are contemplating doing so. The transfer follows that of central banks in locations equivalent to China and India which have gathered gold to diversify reserves and scale back dependency on the US greenback. About 20 central banks are anticipated to replenish within the coming 12 months, in response to a World Gold Council survey.
