El Salvador Diversifies Reserves with $50 Million Gold Purchase

El Salvador has taken a major step in diversifying its financial reserves by purchasing $50 million worth of gold, marking a significant acquisition since 1990. The nation’s Central Reserve Bank acquired nearly 14,000 troy ounces of gold, bringing the country’s total holdings to over 58,105 ounces, valued at approximately $207.4 million. This move aligns with President Nayib Bukele’s strategy to bolster financial stability and reduce reliance on a single asset class.