mo4ch:>Dollar beware: Serbia & Philippines join global gold hunt | Mo4ch News

Two more nations, Serbia and the Philippines, have boosted their national gold reserves. They follow a global trend of other central banks accumulating bullion in a move seen as a shift away from the US dollar standard.Belgrade will increase its gold reserves from 20 to 30 tons by the end of this year, according to Serbian media company Vecernje Novosti. It said the country plans to boost its holding to 50 tons by the end of 2020 as a safety measure. Statistics from the National Bank of Serbia show foreign exchange reserves are currently worth €11 billion.The decision to beef up bullion reserves was reportedly made following this month’s meeting of Serbian President Aleksandar Vučić with an IMF delegation. The fund’s representatives told the president they’d approve of Belgrade’s gold-buying if it fits into Serbia’s strategy of increasing foreign exchange reserves.Also on rt.comRussia boosting gold reserves at a time of impending US dollar crisis – Peter SchiffLast Wednesday the Centr…