Central banks continue to buy large amounts of gold. The current WGC list of global gold reserves reveals which countries were last active in the gold market.
Gold reserves currently
The World Gold Council (WGC) has updated its ranking of global gold reserves. The table receives the official national gold holdings as of September / October 2019. For Russia, 2,252.1 tons of gold are now reported. That’s 10.2 tons more than in the previous month. The Chinese gold reserves remained unchanged at 1,948.3 tons. The country has not filed a statement for October and, according to recent information, China did not buy gold in November.
Bundesbank sells (something) gold
German gold reserves fell by 0.3 tonnes. The Bundesbank regularly sells small portions of its holdings to the Federal Ministry of Finance. From this, the gold coins of the FRG appearing in an annual reprint are marked (100 Euro, 50 Euro, 20 Euro).
Turkey with us
In Turkey, gold reserves have risen again. According to the WGC, the 398.2 tonnes listed in the table are actual central bank stocks. These have increased by 12.7 tonnes. The official Turkish figures also include deposits from commercial banks. They last amounted to 537.81 tons (Turkey hoards much more gold). Serbia’s gold stocks increased by 9.3 tons to a total of 30.4 tons. Uzbekistan has bought 6.5 tons of gold and now owns 338.7 tons of gold.
We see a noticeable change in the month-on-month comparison in Australia’s gold reserves. These are now estimated at 80 tons, as in January. The Australian Central Bank repeatedly asserted that it had not sold gold. Nonetheless, stocks of only 68.74 tons have repeatedly cropped up in the financial media, including in the November list of the WGC. Other changes compared to the list of the previous month:
Mongolia: +3.1 tons
Egypt: +0.1 tons
Tajikistan: -2 tons
Kazakhstan: -0.1 tons
Total gold reserves have risen
Total global gold reserves are now estimated at 34,500.85 tonnes by the World Gold Council. That is 10.41 tons more than in the previous month. As always, the following must be taken into account: The inventory reports follow at different times. Some countries do not provide regular information on their gold reserves. These include Iran, Israel and North Korea.