Quote from article It is now more obvious than ever that gold is becoming the new global reserve currency. Continuous and aggressive central-bank actions from the United States and Europe are driving the demand for gold. Investors have not yet seen any of the real hyperinflationary pressures that seem likely down the road. Gold's substantial rise in price should speak for itself. In dollar terms, gold returned 11.1% in the third quarter and was up by 16% year-to-date through the end of the quarter. The World Gold Council said that gold has a low stock-market correlation through time. That was not the case in the third quarter. Gold still outperformed almost all the major equity markets in the largest gold-holding nations in 2012. FROM 24/7 WALL ST. 8 stocks held by large holders 10 nations controling world's gold How low can mortgage rates go? 24/7 Wall St. analyzed how the gold rankings compare to each major nation's gross domestic product and how those figures compare to the top 10 holders of gold. What is surprising in some cases is how countries with the largest GDP are not necessarily the largest holders of gold. Two small nations, the Netherlands and Switzerland, are major holders of gold More at http://www.marketwatch.com/story/10-nations-that-control-the-worlds-gold-2012-10-20
Rank Country Gold (Tonnes) Gold's share of FX reserves (%) 1 United States 8133.5 76.90% 2 Germany 3396.3 74.20% 3 IMF (International Monetary Fund) 2814.1 N.A. 4 Italy 2451.8 73.90% 5 France 2435.4 73.70% 6 China 1054.1 1.80% 7 Switzerland 1040.1 16.80% 8 Russia 873.6 9.60% 9 Japan 765.2 3.30% 10 Netherlands 612.5 63.00% 11 India 557.7 10.00% 12 ECB (European Central Bank) 502.1 34.80% 13 Taiwan 422.4 6.10% 14 Portugal 382.5 89.80% 15 Venezuela 372.9 71.10% 16 Saudi Arabia 322.9 3.30% 17 United Kingdom 310.3 18.00% 18 Lebanon 286.8 32.50% 19 Spain 281.6 35.50% 20 Austria 280.0 58.30% 21 Belgium 227.5 41.80% 22 Turkey 179.1 10.60% 23 Algeria 173.6 5.10% 24 Thailand 152.0 4.80% 25 Libya 143.8 N.A. 26 Philippines 143.3 10.60% 27 Singapore 127.4 3.00% 28 Sweden 125.7 13.90% 29 South Africa 125.0 14.00% 30 Bank for International Settlements 119.0 N.A. 31 Greece 111.6 83.00% 32 Mexico 106.2 4.00% 33 Romania 103.7 12.10% 34 Poland 102.9 5.80% 35 Australia 79.9 10.00% 36 Kuwait 79.0 14.30% 37 Egypt 75.6 16.80% 38 Kazakhstan 73.6 12.80% 39 Indonesia 73.1 3.60% 40 Denmark 66.5 4.00% 41 Pakistan 64.4 19.50% 42 Argentina 54.7 6.70% 43 Korea 54.4 0.70% 44 Bolivia 49.3 22.50% 45 Finland 49.1 25.30% 46 Bulgaria 39.9 12.60% 47 Belarus 39.6 25.00% 48 WAEMU* 36.5 13.10% 49 Malaysia 36.4 1.50% 50 Peru 37.7 4.00%
^^^^ No bets on that one. Even if that wasn't true, I would bet that Germany is a lot closer than this list suggests.
India at No 11 is a surprise..However most gold in India is held by private individuals.. Seen a graph recently where it was claimed that Indian citizens hold collectively more gold than the USA, Germany and China. If I come across it again I will post it up here on this thread. Someone else might have seen it and do the good deed. Regards Errol 43 Edited for spelling..very first word.
http://www.zerohedge.com/news/2012-...ands-bundesbank-audit-sovereign-gold-holdings [youtube]http://www.youtube.com/watch?v=ILwZuO8fWpM[/youtube] mmm...
It Begins: Ecuador Demands Repatriation Of One Third Of Its Gold Holdings http://www.zerohedge.com/news/2012-...ands-repatriation-one-third-its-gold-holdings The game of musical chairs begins... who will be last to take a seat (or not as will be the case)
Q. What proof is there that the US actually holds the amount of gold it claims? Q. But where is the German gold? (answer: in the USA)? And they are the top two holders of Gold. The stats themselves are not quite so straight forward as it might seem.
My bet is that China already has in reality more than either Germany or the USA. Does anyone really think the Chinese would make Targets of themselves by revealing that they are topdog in terms of gold reserves? Just like the US probably manipulates it's figures upwards, the Chinese are likely manipulating there's downwards. In the mean time, us Australians just stay "manipulated". :lol:
LOL There are entire threads on the topic of the US gold holdings (and apparent lack of auditing) alone. :lol:
Central Banks of other countries are starting to accumulate / repatriate their gold. Our country has bucketloads yet most is mined by companies with large percentages of international shareholders on their registries and the gold is usually waving goodbye to the great Southern land as it is shipped oversea's......... !!! Has anyone taken this up with their local members / Govt Rep's about what our Govt policy / stance is on accumulating / storing gold, any strategic Govt vision (Yeh I know, stop laughing) or is there already a thread someone on this? Any thoughts ? ................................................
Occasionally I wondered how the in-ground gold could be taken into account in these statistics. It could also be seen as "some sort of a gold reserve". Of course, it can't be mined for free, but it's probably easier for Australia to mine their gold than it is for Germany to get their gold out of the fed vaults :lol: . And considering that, the satistics would roughly look like Australia: 3400 tonnes Germany: 0.000001 tonnes or so...
WAEMU are holding their gold "together". Wow, that's interesting! A lot of trust among members... The IMF is 3rd, that proves us that gold is indeed an important hard asset.
