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Central Bank gold reserves fell 20.9 tons in November

17 January 2021

 

The World Gold Council (WGC) has announced official gold reserves data for November. According to the Central Bank of the Republic of Turkey (CBRT) in November last year 20.9 tons of gold reserves in most of the world was falling central bank most.In the assessment of the issue WGC in Turkey's domestic demand increased due to the increased gold exchanges between the banks and the Central Bank, it also led to a decrease in reserves, he said. The Central Bank of Mongolia became the central bank with the biggest decrease in gold reserves after the CBRT in November with 2.4 tons.On the other hand, Uzbekistan was the country that increased its gold reserves the most with 8.4 tons, followed by Qatar with 3.1 tons, India with 2.8 tons and Kazakhstan with 1.7 tons. Global gold reserves decreased by 6.5 tons in November.

 

OPEN BETWEEN LEADER IN FIRST 11 MONTHS

Despite the sale in November, the CBRT increased its gold reserves by 134.6 tons of gold in the first 11 months of 2020. There was a net increase in 9 out of 11 months. In the first 11 months, it was by far the central bank in the world to increase its gold reserves the most. January-November 2020 period, Turkey's official gold reserves after the highest increase in the country's 38 shades India, Russia 27.4 tons, 23.9 tons United Arab Emirates, Qatar was 14.5 tons and 6.8 tons of Argentina.

 

These developments together with Turkey, which most official gold reserves in the world with 547 tonnes as of November was 11 countries.

 

COUNTRIES WITH THE MOST OFFICIAL GOLD RESERVES IN THE WORLD:

 

Rank

Country

Gold reserve (tons)

1

USA                        

8,134

2

Germany               

3,362

3

Italy                        

2,452

4

France                   

2,436

5

Russia                   

2,299

6

China                    

1,948

7

Switzerland           

1,040

8

Japan                      

765.2

9

India                       

672.9

10

Netherlands            

612.5

11

Turkey                     

547

12

Taiwan                    

423.6

13

 Kazakhstan             

386.3

14

Portugal                   

382.6

15

Uzbekistan                

324.1

16

Saudi Arabia            

323.1

17

United Kingdom       

310.3

18

Lebanon                   

286.8

19

Spain                       

281.6

20

Austria                      

280

 

The USA has the largest official gold reserve in the world with 8,134 tons. Germany with 3.362 tons and Italy with 2452 tons follow the USA.

 

 

 

Source: https://www.haberturk.com/merkez-bankasi-kasimda-209-ton-altin-satti-2939492-ekonomi