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POSTED ON October 17, 2018  - POSTED IN Key Gold Headlines

Yesterday, the Hungarian central bank announced it recently boosted its gold reserves 10-fold.

According to its website, the National Bank of Hungary (MNB) now owns 31.5 tons of gold, up from 3.1 tons. It was the first significant purchase of gold by Hungary since 1986.

A statement by the bank said the increase in gold stocks was intended to increase financial stability and strengthen market confidence. 

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