Invesco Global Sovereign Asset Management Study has published an annual report indicating that several countries want to store gold reserves within their own borders, but fear a fate similar to that of Russia, which has seen a coordinated sanctions list by the West after its invasion of Ukraine last year.

In its survey, Invesco interviewed 85 sovereign wealth funds and 57 central banks, which collectively manage around $21 trillion in assets. These statistics allowed him to note that the West froze nearly half of Russia's $640 billion in gold and currency reserves last year, triggering a change in central banks' thinking about what assets to hold and where to store them. According to the survey, “a substantial percentage of central banks are concerned about the precedent created by the American freeze of Russian reserves, with the majority (58%) agreeing that the event has made gold