Chemistry:Gold holdings

From HandWiki
Short description: Quantities of gold held as a store of value
World's gold from 1845 to 2013, in tonnes (metric tons in the U.S.)
Official U.S. gold holdings since 1900
World's gold holdings per capita, in grams

Gold holdings are the quantities of gold held by individuals, private corporations, or public entities as a store of value, an investment vehicle, or perceived as protection against hyperinflation and against financial and/or political upheavals.[citation needed]

During the 19th and early 20th Century eras of the gold standard, national governments undertook an obligation to redeem the national currency for a certain amount of gold.[1] In such times, the nation's central bank used its reserves to meet that obligation, backing some or all of the currency in issue with the metal it held.[2]

The World Gold Council estimates that all the gold ever mined, and that is accounted for, totals 187,200 tonnes, as of 2017[3] but other independent estimates vary by as much as 20%.[4] At a price of US$1,250 per troy ounce, marked on 16 August 2017, one tonne of gold has a value of approximately US$40.2 million. The total value of all gold ever mined, and that is accounted for, would exceed US$7.5 trillion at that valuation, using WGC's 2017 estimates.[note 1]

IMF holdings

Since early 2011, the gold holdings of the IMF have been constant at 90.5 million troy ounces (2,814.1 metric tons).[5]

National holdings

The IMF regularly maintains statistics of national assets as reported by various countries.[6] This data is used by the World Gold Council to periodically rank and report the gold holdings of countries and official organizations.

On 17 July 2015, China disclosed its official gold holdings for the first time in six years and announced that increased by about 57 percent, from 1,054 to 1,658 metric tons.[7][8]

The gold listed for each of the countries in the table may not be physically stored in the country listed, as central banks generally do not allow independent audits of their reserves.

Top 50 according to World Gold Council's latest rankings (as of January 2024)[9]
Rank Country/Organization Gold holdings
(in metric tons)
Gold's share of
forex reserves
1  United States 8,133.5 69.6%
2  Germany 3,352.6 68.7%
International Monetary Fund 2,814.0 [lower-alpha 1]
3  Italy 2,451.8 65.5%
4  France 2,436.9 67.1%
5  Russia 2,332.7 25.7%
6  China 2,226.4 4.3%
7   Switzerland 1,040.0 8.4%
8  Japan 846.0 4.4%
9  India 803.6 8.6%
10  Netherlands 612.5 57.9%
11  Turkey 522.5[lower-alpha 2] 30.8%
Logo European Central Bank.svg European Central Bank 506.5 40.5%
12  Taiwan 422.4 4.7%
13  Portugal 382.6 72.9%
14  Uzbekistan 362.0 72.1%
15  Poland 358.7 12.6%
16  Saudi Arabia 323.1 4.7%
17  United Kingdom 310.3 11.6%
18  Kazakhstan 304.3 58.5%
19  Lebanon 286.8 56.5%
20  Spain 281.6 18.2%
21  Austria 280.0 59.4%
22  Thailand 244.2 7.3%
23  Singapore 230.3 4.3%
24  Belgium 227.4 36.8%
25  Algeria 173.6 13.9%
26  Philippines 165.6 10.7%
27  Venezuela 161.2 84.5%
28  Iraq 132.7 7.9%
29  Brazil 129.7 2.4%
30  Egypt 126.0 24.6%
31  Sweden 125.7 13.9%
32  South Africa 125.4 13.3%
33  Mexico 120.0 3.7%
34  Libya 116.6 9.4%
35  Greece 114.4 55.9%
36  South Korea 104.4 1.7%
37  Romania 103.6 9.5%
BIS-logo.PNG Bank for International Settlements 102.0[lower-alpha 3] [lower-alpha 1]
38  Qatar 99.2 12.7%
39  Hungary 94.5 13.8%
40  Australia 79.8 8.9%
41  Kuwait 79.0 10.3%
42  Indonesia 78.6 3.9%
43  United Arab Emirates 74.6 2.9%
44  Denmark 66.5 4.3%
45  Pakistan 64.7 32.8%
46  Argentina 61.7 18.8%
47  Belarus 53.8 42.9%
48  Finland 49.0 18.9%
49  Jordan 43.5 18.0%
50  Bolivia 42.5 87.5%
World 35,809.3[lower-alpha 4] 15.5%
Euro Area (including the ECB) 10,771.4 59.1%

Private holdings

[10] [11]
Rank Name Type Gold holdings
(in tonnes)
1 SPDR Gold Shares ETF 1,167[12]
2 iShares Gold Trust ETF 523.0[13]
3 COMEX Gold Trust ETF 440.0[11]
4 ETF Securities Gold Funds ETF 306.9[11]
5 Xetra Gold ETF ETF 226.9[14]
6 ZKB Physical Gold ETF 169.4[11]
7 Sprott Physical Gold Trust CEF 69.3[11]
8 SPDR Gold MiniShares ETF 66.0[15]
9 Central Fund of Canada CEF 52.7[16]
10 Julius Baer Physical Gold Fund ETF 49.1[10]
11 BullionVault Bailment 34.2[17]
12 GoldMoney Bailment 34.1[18]
13 ETFS Physical Swiss Gold Shares ETF 26.3[11]
14 ABSA NewGold Exchange Traded Fund ETF 22.0[11]
15 Central GoldTrust CEF 21.9[19]
- Total for the above 14 2,960

World Holding

(2011)
(Source: United States Geological Survey)[20][21]
Location Gold holdings
(in tonnes)
Share of total
world gold holdings
Total 171,300 100%
Jewellery 84,300 49.2%
Investment (bars, coins) 33,000 19.26%
Central banks 29,500 17.2%
Industrial 20,800 12.14%
Unaccounted 3,700 2.2%

See also

Notes

  1. Gold, silver, and other precious metals and gems are weighed by the troy ounce, whereby 12 troy ounces = 1 pound and the typicsl 16-to-1 ratio in most other normal weights. There would be 24,000 troy ounces to 1 ton of weight. One tonne is equal to approximately 32,150.75 troy ounces.

References

  1. Schenk, Catherine (2013). The global gold market and the international monetary system. Palgrave Macmillan. ISBN 9781137306708. http://eprints.gla.ac.uk/90725/1/90725.pdf. Retrieved 17 January 2018. 
  2. "Central Bank Gold Reserves, an historical perspective since 1845", Timothy Green, World Gold Council Study No.23, November 1999
  3. "How much gold has been mined?", World Gold Council
  4. "How much gold is there in the world?", BBC News, 1 April 2013
  5. "Gold in the IMF". International Monetary Fund. Archived from the original on April 22, 2011. https://web.archive.org/web/20110422120344/http://www.imf.org/external/np/exr/facts/gold.htm. 
  6. "Data Template on International Reserves and Foreign Currency Liquidity -- Reporting Countries". http://www.imf.org/external/np/sta/ir/IRProcessWeb/colist.aspx. 
  7. "Gold & Foreign Exchange Reserves". http://www.pbc.gov.cn/publish/html/2015s09.htm. 
  8. "Major Factors Affecting Gold Prices Fluctuation" (in en-US). FXdailyReport.Com. 2016-07-22. http://fxdailyreport.com/major-factors-affecting-gold-prices/. 
  9. "World Official Gold Holdings - International Financial Statistics, January 2024". January 2024. https://www.gold.org/download/file/7739/World_official_gold_holdings_as_of_Jan2024_IFS.xlsx. 
  10. 10.0 10.1 "Holdings of SPDR Gold, iShares Silver". Reuters. 2 July 2015. Archived from the original on August 1, 2015. https://web.archive.org/web/20150801084704/https://www.reuters.com/article/2015/07/02/precious-etf-idUSL3N0ZI3W320150702. Retrieved 1 August 2015. 
  11. 11.0 11.1 11.2 11.3 11.4 11.5 11.6 "Holdings of SPDR Gold, iShares Silver rise". Reuters. 29 May 2020. Archived from the original on June 2, 2020. https://web.archive.org/web/20200602232444/https://www.reuters.com/article/idUSFWN2DB09S. 
  12. "SPDR Gold Shares". SPDR. https://www.spdrgoldshares.com/usa/. Retrieved 28 December 2020. 
  13. "iShares Gold Trust". iShares. https://www.ishares.com/us/products/239561/ishares-gold-trust-fund. Retrieved 28 December 2020. 
  14. "Xetra Gold Holdings". Deutsche Boerse. https://www.xetra-gold.com/en/product/gold-holdings/. Retrieved 1 June 2021. 
  15. "SPDR Gold MiniShares". SPDR. https://www.spdrgoldshares.com/gldm/. Retrieved 28 December 2020. 
  16. "Central Fund's Net Asset Value". Central Fund of Canada. 31 July 2015. Archived from the original on August 1, 2015. https://web.archive.org/web/20150801105835/http://www.centralfund.com/Nav%20Form.htm. Retrieved 1 August 2015. 
  17. "Daily audit - Allocated gold bar lists and bank statements". BullionVault. 31 July 2015. http://www.bullionvault.com/audit.do. Retrieved 1 August 2015. 
  18. "Real-Time Audit". GoldMoney. 31 July 2017. https://www.goldmoney.com/corporate/real-time-audit. Retrieved 31 July 2017. 
  19. "GoldTrust's Net Asset Value". Central GoldTrust. 31 July 2015. Archived from the original on August 1, 2015. https://web.archive.org/web/20150801111616/http://www.gold-trust.com/asset_value.htm. Retrieved 1 August 2015. 
  20. on page 2 of the pdf file; last paragraph just before the "Production" section on that page
  21. "Two Methods for Estimating the Price of Gold by Mike Hewitt". DollarDaze Economic Commentary Blog - Gold, Oil, Stocks, Investments, Currencies, and the Federal Reserve. Archived from the original on 2012-01-09. https://web.archive.org/web/20120109130755/http://dollardaze.org/blog/?post_id=00479&cat_id=20. Retrieved 2012-01-08. 




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