The following is the world official gold holdings as of June 20, according to the World Gold Council (WGC). Statistics show European central banks sold little gold over the past quarter of the year besides a small amount for minting gold coins, bringing total sales by European central banks to 1.8 tonnes, since the central bank gold agreement (CGBA3) began in September of last year. The International Monetary Fund has sold 38.7 tonnes gold via the CGBA3 since mid-February.
Apart from the agreement, the big purchases of the first quarter were made by banks in Russia and the Philippines. The Central Bank of Russia bought 26.6 tonnes gold over the past quarter, taking total holdings to 668.6 tonnes or 5.5% of total reserves. The Philippines central bank bought 9.5 tonnes gold in March. Its gold holdings now stand at 164.7 tonnes or 13.7% of reserves.
Another highlight is the central bank of Saudi Arabia — the Saudi Arabian Monetary Authority (SAMA) — more than doubled its previously reported gold reserves held to 322.9 tonnes or 2.8% of reserves. WGC wrote in a footnote that “gold data have been modified from first quarter 2008, as a result of the adjustment of the SAMA’s gold accounts.”
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