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Message Subject
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Do Western Central Banks Have Any Gold Left?
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Anonymous Coward |
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hard to say..just off wikipedia... 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.[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$1900 per troy ounce, reached in September 2011, one tonne of gold has a value of approximately US$61.1 million. The total value of all gold ever mined would exceed US$ 10.1 trillion at that valuation.[note [ link to en.wikipedia.org]
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