Prompted by news about the Dutch central bank (DNB) moving gold reserves out of the US & Canada https://www.bbc.com/news/articles/cvgyn8q8gqxo
I assumed the European Central Bank bears the responsibility for the Euro, interest rates, etc. So why do member state central banks need gold reserves, or even still exist?
If it has a use, it has a value.
If it has value, it is a way to store wealth.
People store wealth for that day when the shit hits the fan.