by Mike Maharrey, Gold Seek:

The Hungarian National Bank has joined the growing number of central banks globally, increasing their gold reserves.

In a recent press release, Hungary’s central bank announced it has increased its gold holdings from 94.5 tons to 110 tons this year.

“The increase in the gold reserve was supported by the further strengthening of the global economic, geopolitical, and capital market processes that led to the appreciation of the role of gold in recent years.”

According to the press release, the Hungarian bank now has the highest gold reserves per capita in Central and Eastern Europe.