Experts say central banks are increasingly stuffing their vaults as an insurance policy in a volatile world

Fifteen minutes after takeoff, the call came for Serbia’s central bank governor: millions of dollars’ worth of gold bars, destined for a high-security Belgrade vault, had been left on the runway of a Swiss airport.

In air freight – despite the extraordinary value of bullion – fresh flowers, food and other perishables still take priority. “We learned this the hard way,” Jorgovanka Tabaković told a conference late last year.