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Swiss Resource Capital AG Poststrasse 1 9100 Herisau, Switzerland http://www.resource-capital.ch
Contact Mr Jörg Schulte +49 2983 974041

Central banks and their gold reserves

(PresseBox) (Herisau, )
In total, the central banks of this world hold around 36,700 metric tons of gold, representing one-fifth of all gold ever mined.

Gold-hungry central banks have acquired the majority of their gold reserves in the past 14 years. Central banks buy gold to minimize risks, promote economic stability, and hedge against inflationary risks. The fear of a new global financial crisis is also likely to have grown. As the World Gold Council found out in a survey, 70 percent of the central bankers surveyed expect global gold reserves to continue to rise over the next twelve months. This is because gold is a "long-term store of value", according to the often-heard argument. Central banks acquired more than 1,000 tons of gold in both 2022 and 2023. And the first quarter of 2024 was also characterized by strong buying interest. 290 tons of gold were added to the central banks' gold reserves.

Thus, approximately one-fifth of the total global gold reserves are held by central banks. The United States holds the largest gold reserves, with most stored in Denver, Fort Knox, and West Point. Germany claims the second position with less than half the gold reserves of the US, much of which is held abroad, especially in New York, France, and London. Nearly half of Germany's gold reserves are stored in Frankfurt. Italy ranks third in terms of central banks with the largest gold reserves, much of which is also held abroad. France follows in the ranking, with all of its gold stored domestically in underground vaults, 27 meters below street level. Similarly, Russia, the fifth-ranked country, stores its gold domestically in Moscow and St. Petersburg. China, Switzerland, Japan, India, and the Netherlands follow.

Private investors should also consider allocating a portion of their wealth to gold and/or gold stocks, such as Skeena Resources or Victoria Gold.

Skeena Resources - https://www.commodity-tv.com/ondemand/companies/profil/skeena-resources-ltd/ - is focused on revitalizing two previously producing gold properties in the Golden Triangle of British Columbia.

Victoria Gold - https://www.commodity-tv.com/ondemand/companies/profil/victoria-gold-corp/ - anticipates gold production from its Eagle Gold Mine in Yukon to range between 165,000 and 185,000 ounces for the current year. The first quarter saw a gold production of nearly 30,000 ounces.

For current company information and press releases from Victoria Gold (- https://www.resource-capital.ch/... -) and Skeena Resources (- https://www.resource-capital.ch/... -).

In accordance with §34 WpHG, I would like to point out that partners, authors, and employees may hold shares in the companies mentioned, thus creating a potential conflict of interest. No guarantee for the translation into German. Only the English version of this news is valid.

Disclaimer: The provided information does not constitute any recommendation or advice. Please note the risks involved in securities trading. No liability can be accepted for damages resulting from the use of this blog. I would like to emphasize that stocks and especially option investments are generally associated with risks. The total loss of the invested capital cannot be excluded. All information and sources are researched carefully. However, no guarantee is given for the correctness of the content. Despite careful content control, I expressly reserve the right to make errors, especially regarding numerical data and prices. The content of linked external pages is the sole responsibility of their respective operators, according to judicial decisions (including, among others, the Regional Court of Hamburg, judgment of May 12, 1998 - 312 O 85/98), as long as there is no express distancing from these contents. Despite careful content control, no liability is assumed for the content of linked external pages. The respective operators are solely responsible for their content. The disclaimer of Swiss Resource Capital AG also applies additionally: https://www.resource-capital.ch/....

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The publisher indicated in each case (see company info by clicking on image/title or company info in the right-hand column) is solely responsible for the stories above, the event or job offer shown and for the image and audio material displayed. As a rule, the publisher is also the author of the texts and the attached image, audio and information material. The use of information published here is generally free of charge for personal information and editorial processing. Please clarify any copyright issues with the stated publisher before further use. In case of publication, please send a specimen copy to service@pressebox.de.