The National Bank of Serbia published Governor Jorgovanka Tabakovic’s opening remarks at the Executive Forum on Gold Reserves Management, highlighting Serbia’s increased gold holdings and positioning gold as an instrument of monetary sovereignty amid a year of record prices and renewed central bank demand. She reported that Serbia exceeded 50 tons of gold in its foreign exchange reserves for the first time on 10 June 2025 and now holds 52.3 tons, valued at almost EUR 6 billion, representing more than one fifth of total foreign exchange reserves. Tabakovic contrasted the current position with August 2012, when gold reserves stood at 14.8 tons (around EUR 600 million) and accounted for less than 6% of total reserves, stating that gold holdings have more than tripled while their value has increased tenfold. She attributed the build-up to a consistent strategy based on a long-term vision, a mix of domestic and international purchases, and timing of entry into global flows. The remarks were delivered at a three-day forum jointly organised by the World Gold Council and the Bank for International Settlements, bringing together representatives from more than 40 countries.
National Bank of Serbia 2025-11-25
National Bank of Serbia Governor reports Serbia’s gold reserves rose to 52.3 tons, surpassing the 50-ton milestone
Governor Jorgovanka Tabakovic of the National Bank of Serbia highlighted increased gold reserves at the Executive Forum on Gold Reserves Management, noting a rise to 52.3 tons valued at nearly EUR 6 billion. This marks a significant increase from August 2012, when reserves were 14.8 tons, driven by strategic domestic and international purchases. The forum, organized with the World Gold Council and the Bank for International Settlements, gathered representatives from over 40 countries.