A Sovereign Grab for Gold Shakes Global Markets

Gold XC0009655157

A dramatic move by Italy’s government has sent shockwaves through the European financial system and propelled gold prices to unprecedented heights. The nation’s right-wing administration is targeting the 2,452 tonnes of gold reserves held by the Bank of Italy, seeking to transfer ownership to the state. This breach of a long-standing taboo strikes at the core of the eurozone’s foundations and has already helped catapult gold above $4,200 per ounce. The situation forces a critical examination: in an era of rising sovereign debt, who truly controls central bank gold?