LBMA 2026: Central banks aren’t done with gold as geopolitical risks reshape reserves – Bundesbank’s Nagel - Kitco
LBMA 2026: Central banks aren’t done with gold as geopolitical risks reshape reserves – Bundesbank’s Nagel - Kitco
Source: Kitco
―
DW NOTE
Bundesbank's Nagel is telling you what central banks have already done. Gold holdings among official institutions rose 9.3% in 2025, the fastest pace since the euro crisis. That's not forward guidance — that's a balance sheet fait accompli. When a central banker says "we're not done," he means the diversification away from dollar reserves is structural, not tactical.