Tiny Asian Nation Hoards Gold as Shield Against Trade War
- Kyrgyzstan hopes to have half of reserves invested in bullion
- ‘Rules of the game are changing,’ central bank governor says
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What do you do when your two biggest trading partners are embroiled in economic standoffs with the U.S.? You buy as much gold as you possibly can.
At least that’s what Kyrgyzstan’s central bank is doing in a bid to protect itself from currency volatility in China and Russia. The central Asian nation hopes to grow the share of gold in its $2 billion international reserves to 50 percent from around 16 percent now.