Central banks in Eastern Europe are increasing their gold reserves as a way to protect against economic volatility.

The Czech National Bank, led by Governor Ales Michl, plans to double its gold stockpile to 100 metric tons within three years, after already increasing its holdings fivefold since 2022. Michl emphasized the importance of assets that are not correlated to stocks, highlighting gold's role in diversifying reserves.

This trend is not limited to the Czech Republic; central banks in the region, including Warsaw and Belgrade, are actively participating in the gold rush. Their collective efforts are contributing to a surge in gold purchases, which is driving the current rally in gold prices.