27 Jan 2015
Netherlands follows Russia’s foot-steps, boosts gold reserves - IMF
FXStreet (Mumbai) - Netherlands’ gold kitty rose to 622 metric tons or 20 million ounces in December, reaching the highest level since 2007, according to International Monetary Fund (IMF) data.
The Netherlands is the ninth biggest holder of gold in the world and its reserves had been unchanged at 19.7 million ounces between December 2008 through November 2014.
Many central banks all over the world have started adding to their bullion reserves after two decades of reducing their gold holdings.
According to the World Gold Council Worldwide November estimates, central banks' purchases last year are probably in the range of 400 tons to 500 tons.
Moreover, many other countries, including the Netherlands, have quickened the pace of repatriating gold stored in vaults abroad, mostly in the US.
The Netherlands is the ninth biggest holder of gold in the world and its reserves had been unchanged at 19.7 million ounces between December 2008 through November 2014.
Many central banks all over the world have started adding to their bullion reserves after two decades of reducing their gold holdings.
According to the World Gold Council Worldwide November estimates, central banks' purchases last year are probably in the range of 400 tons to 500 tons.
Moreover, many other countries, including the Netherlands, have quickened the pace of repatriating gold stored in vaults abroad, mostly in the US.