The German central bank makes losses – good for gold
The Bundesbank has used up more than 20 billion euros in provisions and reserves. This could increase the value of gold.
The losses are enormous. According to Bundesbank President Joachim Nagel, the burdens in 2024 will probably also be very high, meaning that no profits can be distributed for some time. The Bundesbank is therefore expecting another substantial loss in the current year. Last year-s high interest costs, exacerbated by the European Central Bank-s extensive bond-buying program, a