Czech National Bank holds gold worth 103 billion CZK, bought 20 tons last year

The Czech National Bank (ČNB) purchased 20.5 tons of gold last year, increasing its reserves to over 51 tons by the end of 2024. The gold’s value now exceeds 103 billion CZK, according to data on the structure of foreign exchange reserves. Governor Aleš Michl told CNN Prima News that the bank aims to raise gold reserves to 100 tons within three years. ČNB began larger gold purchases in 2022, holding 12 tons by the end of that year. The bank acquired 18.7 tons in 2023 and maintained steady quarterly purchases of about five tons throughout 2024. Gold now accounts for 2.9% of ČNB’s total reserves.