🇧🇷 Brazil is quietly loading up on gold.
The central bank added 11 tonnes in November, bringing 3-month purchases to 43 tonnes and pushing total reserves to 172 tonnes the highest in years.
This continues a global trend of central banks de-dollarizing, strengthening balance sheets, and boosting hard-asset reserves as geopolitical and inflation risks linger.
Brazil is now one of the fastest-accumulating gold buyers this quarter a notable shift in emerging-market reserve strategy.
