Currently, India's official gold reserve is 653 tons. The economy of this Asian country came under attack due to quarantine measures taken by the government to combat the spread of coronavirus. This is reported by the regional publication Economic Times.
According to the expert, other countries of the world may face similar problems. Under these conditions, Central banks may resort to the sale of yellow precious metals from international reserves, since gold is one of the most liquid assets. Demand for it in the world is almost always present.
The article also states that the UAE may become the second largest contender for the sale of gold from reserves. Now the gold reserves of this Arab country is 323 tons. Financial problems in the economy forced the government to increase VAT to 15% - a triple increase.