Vucic confirms Serbia is boosting gold reserves

Serbian President Aleksandar Vucic on Tuesday confirmed Serbia was boosting its gold reserves at his initiative to enable a more secure future for the country amid potentially adverse trends on financial markets as well as on the crude oil, copper and steel markets.

21 Maj 2019 15:42

NOVI SAD - Serbian President Aleksandar Vucic on Tuesday confirmed Serbia was boosting its gold reserves at his initiative to enable a more secure future for the country amid potentially adverse trends on financial markets as well as on the crude oil, copper and steel markets.

"That way we will ensure greater stability for our country," Vucic told reporters.

By the end of the year, Serbia will boost its gold reserves from 20 t to 30 t, and to 50 t in the years to come, Vucic said.

When asked what this meant, Vucic said very difficult and unpredictable times were ahead for Europe and the world.

"Why all the talk about gold? Any talk about a conflict with Iran destroys the crude oil market - whatever happens with Iran, you do not know what the oil price will be, any talk about operating systems and the conflict over Huawei, a continued conflict over artificial intelligence and the robotics industry, leads to the most intense conflicts possible," he said.


Photo: Tanjug/D. Goll


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