The central bank of the Czech Republic has set a goal to double its gold reserves to 100 metric tons within the next three years.

The governor of the central bank, Ales Michl, recently visited the Bank of England to inspect the gold bars stored in its vaults, demonstrating the country's commitment to diversifying its reserves.

Since Michl assumed office in 2022, the Czech National Bank's gold holdings have increased fivefold, reflecting a broader trend among East European central banks to strengthen their gold assets.

This strategic move aligns with global shifts in reserve management as countries aim to enhance financial stability in the face of economic uncertainties.