Wednesday 17 August 2011

Gold reserve

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.
At the end of 2004, central banks and investment funds held 19% of all above-ground gold as bank reserve assets. It has been estimated that all the gold mined by the end of 2009 totaled 165,000 tonnes.

IMF gold holdings

As of June 2009, the International Monetary Fund held 3,217 tonnes (103.4 million oz.) of gold, 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, 10 tonnes to Sri Lanka, a further 10 Metric tonnes of Gold was also sold to Bangladesh Bank in September 2010 and 2 tonnes to the Bank of Mauritius. 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. 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

Officially reported gold holdings

Foreign currency reserves and gold minus external debt based on 2010 data from CIA Fact book
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.
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)
Rank
Country/Organization
Gold
(tonnes)
Gold's share
of national
forex reserves (%)
-
10,792.6
60.7%
1
8,133.5
73.9%
2
3,401.8
70.3%
3
2,846.7
-
4
2,451.8
68.6%
5
2,435.4
67.2%
6
1,054.1
1.7%
7
1,040.1
16.4%
8
775.2
6.7%
9
765.2
3.0%
10
675
57.5%
11
614.8
8.1%
12
522.7
27.9%
13
466.9
4.6%
14
421.6
81.1%
15
401.1
52.4%
16
322.9
3.0%
17
310.3
16.8%
18
300.0
-
19
286.8
27.6%
20
281.6
38.6%
21
280.0
56.2%
22
227.5
36.8%
23
184.4
19.2%
24
175.9
14.0%
25
173.6
4.5%
26
143.8
5.6%
27
127.4
2.5%
28
125.7
11.1%
29
124.9
12.2%
30
120.0
-
31
116.1
6.0%
32
111.7
78.7%
33
103.7
9.1%
34
102.9
4.5%
35
100.1[12]
3.8%[12]
36
99.5
2.5%
37
79.9
8.1%
38
79.0
13.5%
39
75.6
8.7%
40
73.1
3.6%
41
67.3
10.0%
42
66.5
3.3%
43
54.7
4.5%
44
49.1
20.6%
45
39.9
9.9%
46
36.5
12.2%
47
36.4
1.5%
48
32
24.5%
49
34.7
3.6%
50
33.6
0.5%
51
31.8
65.4%
53
28.3
13.4%
53
27.2
3.5%
54
26.3
31.0%
55
25.8
-
56
22.0
4.2%
57
21.4
-
58
17.5
11.9%
59
14.4
0.2%
60
13.9
50.8%
61
13.5
5.2%
62
13.1
4.2%
63
13.1
36.3%
64
12.8
4.3%
65
12.7
1.2%
66
12.4
14.4%
67
12.4
2.1%
68
8.8
36.5%
69
7.7
4.0%
70
7.3
10.6%
71
7.1
2.3%
72
6.9
5.3%
73
6.9
1.1%
74
6.8
12.7%
75
6.8
-
76
6.0
11.8%
77
5.8
3.8%
78
4.7
-
79
3.9
6.8%
80
3.4
0.2%
81
3.3
-
82
3.2
13.4%
83
3.1
17.7%
84
3.1
0.3%
85
2.6
6.5%
86
2.2
11.7%
87
2.1
0.0%
88
2.0
11.4%
89
2.0
1.6%
90
2.0
2.9%
91
1.9
0.8%
92
1.6
2.8%
93
1.6
1.1%
94
0.9
1.2%
95
0.9
2.4%
96
0.7
-
97
0.7
0.7%
98
0.6
1.0%
99
0.4
0.8%
100
0.4
6.2%
101
0.3
8.4%
102
0.3
2.4%
103
0.3
0.4%
104
0.3
0.1%
105
0.2
-
106
0.2
0.3%
107
0.2
0.0%
108
0.2
1.6%
109
0.1
0.1%
110
0.0
0.1%
111
0.0
0.5%
112
0.0
0.0%
113
0.0
-
114
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.
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.
Privately held gold (May 2011)
Rank
Name
Type
Gold (Tonnes)
1
1.210,75
2
259,79
3
ZKB Physical Gold
195,53
4
COMEX Gold Trust
137,61
5
Julius Baer Physical Gold Fund
93,50
6
NewGold ETF
47,75
7
32,27
8
ETFS Physical Swiss Gold Shares
27,97
9
Allocated storage
21,36
10
Allocated storage
17,99

World gold holdings

World gold holdings (2008) (Source: World Gold Council)
Holding
Percentage
Jewelry
52%
Central banks
18%
Investment (bars, coins)
16%
Industrial
12%
Unaccounted
2%


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