NEWS

Saturday, 6 August 2022

IMPORTANCE OF GOLD RESERVES IN NATIONAL CENTRAL BANKS

 


Strengthening of values of national currencies

*Counteracting rising inflation

*Gold is the most trusted treasure capable of surviving numerous economic turbulences (e.g. Libya has 117 tons of gold in reserve)


*2022 - Top 10 countries with the largest GOLD reserves*


1. USA: 8,133 tons

2. GERMANY: 3,359 

3. ITALY: 2,452

4. FRANCE: 2,436

5. RUSSIA: 2,299

6. CHINA: 1,948

7. SWITZERLAND: 1,040

8. JAPAN: 846

9. INDIA: 754

10. NETHERLANDS: 612


NB: See below breaking news from India - it added 12.5 tons of gold in July 2022


*2022 - Top 10 AFRICAN countries with GOLD reserves*


1. ALGERIA: 174 tons

2. SOUTH AFRICA: 125

3. LIBYA: 117

4. EGYPT: 80.73

5. MOROCCO: 22.12

6. NIGERIA: 21.37

7. MAURITIUS: 12.44

8. GHANA: 8.74

9. TUNISIA: 6.84

10. MOZAMBIQUE: 3.94 


*Burundi: 0.03 tons

*Kenya: 0.02 tons


From:

Prof. Sospeter Muhongo*


*Former Vice President of the Commision of the Geological Map of the World (CGMW)


*Co-Author of the Geology and Mineral Map of Africa


*Editor-in-Chief Emeritus of the Journal of African Earth Sciences, published by Elsevier.


Date:

Saturday, 6.8.2022

No comments:

Post a Comment

Post Top Ad

Your Ad Spot

Pages