As risk has escalated, central banks have bought more gold to stash in reserve. A widening Middle East war could add to the urgency.

As central banks buy more gold, where to put all that heavy metal is an increasingly important question. Reserves must be secure and ready to trade in a crisis.

The Bank of England and European Central Bank held interest rates steady on Thursday, as officials search for signs of possible longer-term damage and warn of the impact of a prolonged energy shock.