El Salvador Diversifies its Reserves with $50 Million Gold Purchase

El Salvador has made a strategic move to diversify its international reserves by acquiring 13,999 troy ounces of gold valued at approximately $50 million. This purchase marks the country’s first official gold acquisition since 1990 and follows President Nayib Bukele’s strategy for strengthening economic resilience. 14,999 ounces of gold have now been added to El Salvador’s reserves, which were previously around 44,106 troy ounces. The country’s decision reflects a broader trend where central banks worldwide use gold as a hedge against global economic volatility. 6,200 Bitcoin (BTC) remain part of their reserve holdings. The move underscores the increasing importance of diversifying reserves while managing significant cryptocurrency investments, such as Bitcoin.