Serbia’s is among a growing number of central banks to hastily amass vast stockpiles of gold, upending decades of conventional economic logic and fuelling an increase in the gold price amid mounting geopolitical tensions. As Washington challenges the US Federal Reserve’s independence, sending jitters through financial markets, the price soared to a record $4,643 (£3,463) an ounce this week, and analysts have tipped it to break $5,000 this year.