According to the World Gold Council’s latest listing, India, Qatar and Uzbekistan recently added the most to their gold reserves.
Gold reserves worldwide
The World Gold Council (WGC) has updated its list of global gold reserves. It includes official government gold holdings as of November 2020. The following changes have occurred compared to the previous month’s list. India added 2.8 tons of gold and now officially holds 672.9 tons of monetary gold. Uzbekistan added 8.5 tons of gold and now officially holds 324.1 tons. Qatar added 3.1 tons to its gold holdings. The emirate has gold reserves amounting to 56.7 tons.
Turkey’s gold reserves, on the other hand, declined sharply. 547.0 tons are now reported for the country. This is 20.9 tons less than in the previous month. These holdings also include gold deposited by commercial banks with the Turkish central bank.
Increased gold reserves
Further changes compared to the WGC list of the previous month:
- Ukraine: +0.6 tons
- Philippines: +0.2 tons
- Serbia: +0.2 tons
- Egypt: +0.1 tons
- Belarus: -0.1 tons
- Brunei Darussalam: -0.2 tons
Total world gold reserves are now put at 35,191.1 tons by the World Gold Council. This is 19.8 tons more than in the previous report.
One thing to keep in mind is that some countries do not regularly report their national gold holdings. These include Iran, Israel and North Korea, among others. China has not reported an adjustment to its official gold holdings since September 2019. Russia announced last March that it would stop buying gold for the time being. According to the WGC, it obtains the data from two main sources. They come from direct stock reports of the states and from the gold reserve statistics of the International Monetary Fund.
Translated with www.DeepL.com/Translator