El Salvador Deepens Diversification Strategy with Gold Reserves Acquisition

El Salvador has taken action to expand its international reserves through the acquisition of 13,999 ounces of gold valued at $50 million. This purchase adds to the country’s existing gold holdings, raising their total count from 44,106 ounces to 58,105 ounces, with a market value of $207.4 million. The central bank views this investment in gold as a crucial element in its broader diversification strategy for international reserves. Notably, El Salvador has previously prioritized increasing Bitcoin holdings within its reserve strategy.