African Nations Turn to Precious Metal to Combat Inflation African nations are increasingly turning to gold as a means to protect their economies against currency losses and inflation, following the lead of countries like China and India. Countries such as South Sudan, Zimbabwe, Nigeria, Uganda, and Tanzania are either implementing or considering policies to increase their gold reserves. This trend is driven by geopolitical tensions, recent economic disruptions, and a desire to reduce dependency on the US dollar. While this strategy offers potential benefits in terms of diversification and stability, experts note that it’s not a complete substitute for US dollar reserves but rather a complementary approach to managing economic risks. « Previous Article Next Article » Share This Article Choose Your Platform: Facebook Twitter Google Plus Linkedin Related Posts Turkey Leads Central Banks in January Gold Purchases READ MORE Dow and S&P 500 Dip Amid Rising Treasury Yields and Rate Cut Speculations READ MORE Gold Reaches New All-Time High READ MORE Gold Finds Support at 50-Day EMA, Eyes Gradual Rebound READ MORE Mortgage Rates Continue to Climb in February READ MORE Add a Comment Cancel replyYour email address will not be published. Required fields are marked *Name * Email * Save my name, email, and website in this browser for the next time I comment. Comment