Gold reserve

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AS IT SEEMS GREECE IS NOT THAT POOR, IT IS NUMBER 32 IN GOLD RESERVE WORLWIDE. NOT BAD FOR SUCH A SMALL COUNTRY... IS ALL THAT CAUSE THE IMF AND IT'S ASSOCIATES WANT OUR GOLD NOW THAT GOLD IS MONETIZED AGAIN ?????????????????????????????????????????

Gold reserve
From Wikipedia, the free encyclopedia

A gold reserve is the gold held by a central bank or nation intended as a store of value and as a guarantee to redeem promises to pay depositors, note holders (e.g., paper money), or trading peers, or to secure a currency.

Today, gold reserves are almost exclusively, albeit rarely, used in the settlement of international transactions.[citation needed]

At the end of 2004, central banks and investment funds held 19% of all above-ground gold as bank reserve assets.[1]

It has been estimated that all the gold mined by the end of 2009 totaled 165,000 tonnes.[2] At a price of US$1000/oz., exceeded in 2008 and 2009, one tonne of gold has a value of approximately US$32.15 million. The total value of all gold ever mined would exceed US$5 trillion at that valuation.[note 1]
Contents
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1 IMF gold holdings
2 Officially reported gold holdings
3 Privately held gold
4 World gold holdings
5 See also
6 Notes
7 References

IMF gold holdings

As of June 2009, the International Monetary Fund held 3,217 tonnes (103.4 million oz.) of gold,[3][4] which had been constant for several years. In Fall 2009, the IMF announced that it will sell one eighth of its holdings, a maximum of 12,965,649 fine troy ounces (403.3 t) based on a new income model agreed upon in April 2008, and subsequently announced the sale of 200 tonnes to India,[5] 10 tonnes to Sri Lanka,[6] a further 10 Metric tonnes of Gold was also sold to Bangladesh Bank in September 2010 and 2 tonnes to the Bank of Mauritius.[7] These gold sales were conducted in stages at prevailing market prices.

The IMF maintains an internal book value of its gold that is far below market value. In 2000, this book value was SDR 35, or about US$47 per troy ounce.[8] An attempt to revalue the gold reserve to today's value has met resistance for different reasons. For example, Canada is against the idea of revaluing the reserve, as it may be a prelude to selling the gold on the open market and therefore depressing gold prices.[9]
Officially reported gold holdings
Map of countries by foreign currency reserves and gold minus external debt based on 2009 data from CIA Factbook
Gold reserves per capita

The International Monetary Fund regularly maintains statistics of national assets as reported by various countries. These data are used by the World Gold Council to periodically rank and report the gold holding of countries and official organizations.[10]

The gold listed for each of the countries in the table may not be physically stored in the country listed, as central banks generally have not allowed independent audits of their reserves.
World official gold holding (December 2010)[10] Rank↓ Country/Organization↓ Gold
(tonnes)↓ Gold's share
of national
forex reserves (%)[10]↓
- European Union Euro Area 10,792.6 60.7%
1 United States United States 8,133.5 73.9%
2 Germany Germany 3,401.8 70.3%
3 IMF 2,846.7 -
4 Italy Italy 2,451.8 68.6%
5 France France 2,435.4 67.2%
6 People's Republic of China China 1,054.1 1.7%
7 Switzerland Switzerland 1,040.1 16.4%
8 Russia Russia 775.2 6.7%
9 Japan Japan 765.2 3.0%
10 Netherlands Netherlands 612.5 57.5%
11 India India 557.7 8.1%
12 European Union ECB 501.4 27.9%
13 Republic of China Taiwan 423.6 4.6%
14 Portugal Portugal 382.5 81.1%
15 Venezuela Venezuela 363.9 52.4%
16 Saudi Arabia Saudi Arabia 322.9 3.0%
17 United Kingdom United Kingdom 310.3 16.8%
18 Iran Islamic Republic of Iran 300.0[11] -
19 Lebanon Lebanon 286.8 27.6%
20 Spain Spain 281.6 38.6%
21 Austria Austria 280.0 56.2%
22 Belgium Belgium 227.5 36.8%
23 Pakistan Pakistan 184.4 19.2%
24 Philippines Philippines 175.9 14.0%
25 Algeria Algeria 173.6 4.5%
26 Libya Libya 143.8 5.6%
27 Singapore Singapore 127.4 2.5%
28 Sweden Sweden 125.7 11.1%
29 South Africa South Africa 124.9 12.2%
30 BIS 120.0 -
31 Turkey Turkey 116.1 6.0%
32 Greece Greece 111.7 78.7%
33 Romania Romania 103.7 9.1%
34 Poland Poland 102.9 4.5%
35 Mexico Mexico 100.1[12] 3.8%[12]
36 Thailand Thailand 99.5 2.5%
37 Australia Australia 79.9 8.1%
38 Kuwait Kuwait 79.0 13.5%
39 Egypt Egypt 75.6 8.7%
40 Indonesia Indonesia 73.1 3.6%
41 Kazakhstan Kazakhstan 67.3 10.0%
42 Denmark Denmark 66.5 3.3%
43 Argentina Argentina 54.7 4.5%
44 Finland Finland 49.1 20.6%
45 Bulgaria Bulgaria 39.9 9.9%
46 WAEMU 36.5 12.2%
47 Malaysia Malaysia 36.4 1.5%
48 Belarus Belarus 30.18 24.5%
49 Peru Peru 34.7 3.6%
50 Brazil Brazil 33.6 0.5%
51 Slovakia Slovakia 31.8 65.4%
53 Bolivia Bolivia 28.3 13.4%
53 Ukraine Ukraine 27.2 3.5%
54 Ecuador Ecuador 26.3 31.0%
55 Syria Syria 25.8 -
56 Morocco Morocco 22.0 4.2%
57 Nigeria Nigeria 21.4 -
58 Sri Lanka Sri Lanka 17.5 11.9%
59 South Korea South Korea 14.4 0.2%
60 Cyprus Cyprus 13.9 50.8%
61 Bangladesh Bangladesh 13.5 5.2%
62 Serbia Serbia 13.1 4.2%
63 Netherlands Antilles Netherlands Antilles 13.1 36.3%
64 Jordan Jordan 12.8 4.3%
65 Czech Republic Czech Republic 12.7 1.2%
66 Cambodia Cambodia 12.4 14.4%
67 Qatar Qatar 12.4 2.1%
68 Laos Laos 8.8 36.5%
69 Latvia Latvia 7.7 4.0%
70 El Salvador El Salvador 7.3 10.6%
71 CEMAC 7.1 2.3%
72 Guatemala Guatemala 6.9 5.3%
73 Colombia Colombia 6.9 1.1%
74 Republic of Macedonia Macedonia 6.8 12.7%
75 Tunisia Tunisia 6.8 -
76 Republic of Ireland Ireland 6.0 11.8%
77 Lithuania Lithuania 5.8 3.8%
78 Bahrain Bahrain 4.7 -
79 Mauritius Mauritius 3.9 6.8%
80 Canada Canada 3.4 0.2%
81 Tajikistan Tajikistan 3.3 -
82 Slovenia Slovenia 3.2 13.4%
83 Aruba Aruba 3.1 17.7%
84 Hungary Hungary 3.1 0.3%
85 Kyrgyzstan Kyrgyzstan 2.6 6.5%
86 Luxembourg Luxembourg 2.2 11.7%
87 Hong Kong Hong Kong 2.1 0.0%
88 Suriname Suriname 2.0 11.4%
89 Iceland Iceland 2.0 1.6%
90 Papua New Guinea Papua New Guinea 2.0 2.9%
91 Trinidad and Tobago Trinidad and Tobago 1.9 0.8%
92 Albania Albania 1.6 2.8%
93 Yemen Yemen 1.6 1.1%
94 Cameroon Cameroon 0.9 1.2%
95 Mongolia Mongolia 0.9 2.4%
96 Honduras Honduras 0.7 -
97 Paraguay Paraguay 0.7 0.7%
98 Dominican Republic Dominican Republic 0.6 1.0%
99 Gabon Gabon 0.4 0.8%
100 Malawi Malawi 0.4 6.2%
101 Central African Republic Central African Republic 0.3 8.4%
102 Chad Chad 0.3 2.4%
103 Republic of the Congo Republic of the Congo 0.3 0.4%
104 Uruguay Uruguay 0.3 0.1%
105 Fiji Fiji 0.2 -
106 Estonia Estonia 0.2 0.3%
107 Chile Chile 0.2 0.0%
108 Malta Malta 0.2 1.6%
109 Costa Rica Costa Rica 0.1 0.1%
110 Haiti Haiti 0.0 0.1%
111 Burundi Burundi 0.0 0.5%
112 Oman Oman 0.0 0.0%
113 Comoros Comoros 0.0 -
114 Kenya Kenya 0.0 0.0%
- World 30,562.5 -
Privately held gold

As of October 2009, gold exchange-traded funds held 1,750 tonnes of gold for private and institutional investors.[13]

Gold Holdings Corp. a publicly listed gold company estimates that the amount of in-ground verified gold resources currently controlled by publicly traded gold mining companies is roughly 50,000 tonnes.[14]
Examples of privately held gold Rank Organization Gold (Tonnes) Reference
1 SPDR Gold Shares 1,299.87 [15]
2 iShares Gold Trust 107.95 [16]
3 Central Fund of Canada 46.77 [17]
4 BullionVault (storage) 21.36 [18]
World gold holdings
World gold holdings (2008) (Source: World Gold Council[19]) Holding Percentage
Jewelry 52%
Central banks 18%
Investment (bars, coins) 16%
Industrial 12%
Unaccounted 2%
See also

Foreign exchange reserves
Sovereign wealth fund
United States Bullion Depository
Federal Reserve Bank of New York
Gold as an investment
Peak Gold
Strategic Petroleum Reserve
Moscow gold, the reserves of the Bank of Spain sent to the Soviet Union during the Spanish Civil War.

Notes

^ One tonne is approximately 32150.75 troy ounces.

References

^ Central Banks and Official Institutions World Gold Council
^ gold knowledge/frequently asked questions World Gold Council
^ "Gold in the IMF". International Monetary Fund. 2009-09-18.
^ "Quarterly Gold and FX Reserves". World Gold Council. June 2009.
^ IMF Announces Sale of 200 metric tons of Gold to the Reserve Bank of India
^ IMF Announces Sale of 10 Metric Tons of Gold to the Central Bank of Sri Lanka
^ IMF Announces Sale of 2 Metric Tons of Gold to the Bank of Mauritius
^ "IMF completes off-market gold sales". 2000-04-07.
^ Gold falls on IMF sale concerns
^ a b c Reserve asset statistics
^ "Secret Iran Gold Holdings Leaked". Zero Hedge, Tyler Durden. Retrieved March 21, 2011.
^ a b "UPDATE 2-Mexico ramps up gold reserves at dollar's expense". Retrieved May 21, 2011.
^ Daily Gold ETF Monitor
^ Gold Holdings by Company
^ Bar list from SPDR Gold Shares web site
^ from iShares Gold Trust (IAU), as of May, 2009
^ Central Fund of Canada
^ Daily Audit - Allocated Gold Bar Lists And Bank Statements - BullionVault.com
^ DollarDaze Economic Commentary Blog