EU's Ukraine funding plan could further boost central bank gold buying, analysts say

Core Insights - The European Commission's proposal to utilize frozen Russian state assets for financial aid to Ukraine is causing concern among central banks, potentially leading to increased gold purchases for storage outside Western jurisdictions [1] Group 1 - The proposal aims to provide financial support to Ukraine by tapping into frozen Russian assets [1] - Central banks are reacting to the proposal, indicating a shift in their asset management strategies [1] - There is a potential acceleration in gold purchases as a response to the proposal, highlighting a trend towards securing assets outside of Western control [1]