Breaking news

Poland, Turkey, And India Lead Global Gold Purchases In 2024

by THEFUTURE.TEAM
February 10, 2025

Poland’s central bank has continued its strategy of increasing its gold reserves, which reached 450 tonnes in 2024, placing it 13th globally in terms of stock size. Gold now makes up 17% of Poland’s foreign exchange reserves, which total over $220 billion, according to data from the World Gold Council.

The Polish central bank has been the largest net buyer of gold in 2024, acquiring 90 tonnes, followed by Turkey (75 tonnes) and India (73 tonnes). This move aligns with a broader trend of countries strengthening their financial positions through gold, which is seen as a safeguard against economic instability.

Poland plans to increase the proportion of gold in its reserves to 20%, which could elevate the country to 11th place in the global rankings, approaching the European Central Bank’s gold reserves of around 506 tonnes.

Globally, central banks hold over 30,000 tonnes of gold, with the largest reserves held by the United States (8,100 tonnes), followed by Germany, Italy, France, Russia, and China. As Poland continues to build its gold stockpile, it is positioning itself as a key player in the global financial landscape, with the value of gold providing a solid financial foundation in times of economic uncertainty.

Donatella Versace Steps Down After 30 Years At The Helm of Fashion Empire

by THEFUTURE.TEAM
March 14, 2025

After nearly three decades steering the iconic Versace brand, Donatella Versace is stepping down from her role as head of the fashion house. The 69-year-old Italian designer, who inherited the reins from her late brother, Gianni, following his tragic murder in 1997, will remain with the company as its Chief Brand Ambassador. She is set to pass the creative torch to Dario Vitale, the former design and image director of Miu Miu, who will take on the position of Chief Creative Officer.

In her Instagram announcement, Donatella shared her thoughts: “Championing the next generation of designers has always been important to me,” she wrote, expressing her excitement for Vitale’s appointment. “I am thrilled that Dario Vitale will be joining us, and I am eager to see Versace through new eyes.”

While her new role shifts focus, Donatella’s deep connection to Versace remains unchanged. “Versace is in my DNA and always in my heart,” she declared. Donatella’s stewardship has firmly cemented the brand as a staple in the luxury fashion industry, with designs worn by global superstars like Dua Lipa, Angelina Jolie, and Sabrina Carpenter.

In a heartfelt reflection, Donatella expressed her gratitude: “It has been the greatest honour of my life to carry on my brother Gianni’s legacy. He was the true genius, but I hope I have some of his spirit and tenacity.” Despite her transition, she reaffirmed her commitment to the brand’s future, adding: “I will remain Versace’s most passionate supporter.”

The announcement was met with a wave of tributes from the fashion world. Celebrities like actor Damian Hurley, singer Sabrina Carpenter, and model Iris Law shared their admiration for the designer’s contribution to the industry. “We love you forever,” Hurley commented, while Carpenter called her “one and only,” and Law posted, “Love you so much.”

This shake-up in leadership comes as speculation mounts that Prada Group may be eyeing a potential acquisition of Versace from its current owner, Capri Holdings, which purchased the luxury brand for €2 billion in 2018. As Donatella steps into her new role, the future of Versace remains closely watched by both fans and industry insiders.

Uri Levine Course

Become a Speaker

Become a Speaker

Become a Partner

Subscribe for our weekly newsletter