Gold bullion report who has gold

Gold Bullion Report : Who HAS Gold?
Gold – People around the world are talking about it everyday. How about you? When you care about Gold market, I would like to ask you a question: Who has Gold? You may know the answer or still want to get to know more about it? For help, we will check out The Gold Bullion Report to understand more about the topic.

News outlets have been all abuzz with the gold acquisitions of countries like Iran and China, and speculation over the size of Libya’s gold reserves. The potential motivation for buying gold, as well as the possibilities over what to spend it on, fuel stories that range on hot button topics.

There are some questions wondered at this time. That is if the US dollar so weak that oil producing nations are moving to precious metals as currencies. Or will the availability of gold prolong the crisis in Libya and give Gaddafi a lifeline? Moreover, who else has gold in significant quantities?

Past performance is not indicative of future results. ***chart courtesy of Gecko Software

The global recession appears to have brought another round of exploration of gold as an alternative asset. Nevertheless, the official purchases of gold for central bank reserves have remained somewhat muted. Why so? The idea behind a limited gold holding is that other assets are a better investment, offering interest payments over time.

To put it blandly, gold holdings take up space are clumsy and awkward to hold and move easily, and don’t offer interest payments. There are some creative ideas of leasing gold which may offer some returns, but usually not at the rate some banks are pursuing.

So which countries were holding the most metric tons of gold heading into the close of 2010? Can you list out some? You know, according to the World Gold Council, the United States led the pack with over 8,100 tons. Germany came in with over 3,401 tons. The rest of the notable holdings are shown in the gold chart at Gold Bullion Report .

Prior to the civil rebellion, Libya was holding 43.8 tons of the shiny stuff as reported. However, the trick with gold holdings is that they cannot be seized or frozen by foreign entities. If they could be sold, the gold holdings in Libya could fetch over $6 billion, and pay a private army or mercenaries for “months or even years - The Financial Times is estimating that.

“ Different from other central banks which may hold their gold in international vaults in New York, London, or Switzerland, the bullion of Libya is reportedly in country, and available to the embattled leader. The other boon seen for Gaddafi is the same that other investors strive for – gold’s value cannot be set by other governments, and its appeal is universal.

Of course, like other investors, to move nearly 150 tons of gold would not be easy. If the International Monetary Fund reports on transactions as small as 10 tons, can someone quietly buy upwards of $6 billion worth of gold without anyone noticing?

If nothing else, current unrest and persistent economic troubles have highlighted the opportunities in precious metals as asset preservation, in times of uncertainty as well as potential inflationary hedges. The latter is sought when central banks are pushing the envelope with stimulus programs.

The next name we need to mention is Iran. This is another news focus, allegedly adding to their gold reserves in an effort to protect their holdings and shift financial assets away from the US dollar. Unfortunately, the same table from the IMF doesn’t show Iran’s holdings. The basis for many news stories about these transactions appears to be from a Bank of England official and a note on Wikileaks.

This country would not be alone in increasing holdings, potentially as a movement of assets away from the US dollar. Since the first part of the year 2000, several nations have added to their coffers rather than emptying them.

The last ones we need to list out are: Russia has added 366 tons. India picked up 200. China loaded up on 659 additional tons. Saudi Arabia squeezed in 180 more. Switzerland, France, IMF, and the Netherlands were among the ones shedding tonnage over the last decade.

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Gold bullion report who has gold

by Jack Johnson on Mar 31, 2011

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