Central banks around the world have increased their gold reserves to 36,000 tonnes in response to recent turbulence in the global currency market.
The World Gold Council (WGC) reports that many African nations are steadily raising their gold holdings. This move is aimed at reducing dependence on foreign currencies and strengthening financial stability.
Kenya is among the countries with notable gold reserves. Its central bank holds significant gold assets when compared to its foreign currency reserves, which include US dollars valued at approximately KSh 1.4 trillion.
Experts say the shift toward gold is driven by the need for safer assets. As currency markets fluctuate, central banks see gold as a reliable source of liquidity, stability, and long-term value.
