Gold Is New Obsession for East Europe’s Nationalist Leaders

(Bloomberg) — Gold is all that nationalist leaders in Europe’s east can talk about these days.Just this week, Poland’s government touted its economic might after completing the repatriation of 100 tons of the metal. Over in Hungary, anti-immigrant Prime Minister Viktor Orban has been ramping up holdings of the safe-haven asset to boost the security of his reserves.The gold rush mirrors steps by Russia and China to diversify reserves exceeding $3 trillion away from the dollar amid flaring geopolitical tensions with the U.S. Motivations in Europe’s ex-communist wing, however, can vary.Take the latest example. Former Slovak Premier Robert Fico, who …read more

Source:: Yahoo Finance

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