The decision was supported by strengthening global economic, geopolitical and capital market trends that have led to the appreciation of the role of gold in recent years, the national bank said, according to news wire MTI.
Amid increasing uncertainty in the global economy, gold has a heightened significance as a refuge asset and strengthens confidence in the country as well as supporting financial stability, MNB argued.
Hungary has the highest volume of gold reserves per capita in Central and Eastern Europe, according to the report published by the state news agency.
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