Italy's tenacious stance on gold pays off as prices soar

Italy is experiencing a financial boost due to high gold prices, with the Bank of Italy holding the third-largest gold reserves globally at 2,452 metric tons, valued at around $300 billion. This holding reflects Italy's historical commitment to safeguarding its gold, especially after WWII when Nazi forces seized much of it. Unlike many countries, Italy has resisted selling its gold during economic crises.

Gold accounts for nearly 75% of Italy's official reserves, far exceeding the euro zone average. While some advocate for selling gold to alleviate the national debt, which exceeds 3 trillion euros, financial experts argue it wouldn’t significantly resolve the debt issue. The Bank of Italy remains firm in its decision not to sell, viewing gold as a crucial asset in times of uncertainty.