Czech Gold Holdings Rise as Governor Michl Diversifies Reserves
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The Czech Republic expanded its gold reserves in June as central bank Governor Ales Michl continues to execute a plan to diversify investments to make his institution profitable.
Czech holdings of the precious metal increased to 41.5 metric tons, from 39.7 tons in the previous month, central bank data showed on Tuesday. The value of gold totaling $3.1 billion at the end of June still represented only a fraction of the overall reserves of $146.5 billion, which are one of the highest in the world relative to the size of the economy.