Updated official sector reserve statistics

Published

Categories: Investment, Reserve asset management

Download (pdf, 84.81 KB)

The World Gold Council today releases its regular statistical update on gold reserves in the official sector.

As of the IMF’s May release of its International Financial Statistics, several countries have reported additional purchases of gold. Notably, Mexico reported to the IMF that it acquired 14.8 and 78.5 tonnes of gold in February and March, respectively. This was a significant increase in its gold holdings, raising Mexico’s position in the table to the 34th largest holder of gold with 100.2 tonnes. In its press release, the Banco de Mexico indicated that its acquisition of gold was in line with prudent diversification principles of reserves management. Indeed, Banco de Mexico’s acquisition of gold was likely motivated by a need to diversify its rapidly expanding foreign reserves, which increased from approximately $75 billion to $120 billion between Q1 2007 and Q1 2011.

Additionally, Thailand also reported an increase in its gold reserves of 9.3 tonnes in March, raising its total gold holdings to 108.9 tonnes. This follows an acquisition of 15 tonnes in July of last year. Finally, Russia continues to regularly add gold to its reserves, adding 22.5 tonnes between January and March. Russia is the 8th largest holder of gold.

The latest statistics show no significant selling by the signatory central banks in Year 2 of the third Central Bank Gold Agreement (CBGA3).

This monthly release includes (1) World Official Gold Holdings listing gold holdings by country, (2) a spreadsheet with the latest changes in official sector gold holdings, (3) a spreadsheet tracking sales within CBGA3.

The updated statistics can be found at http://www.gold.org/reserve-asset-management/statistics

For further information please contact:
Stephanie Mackrell
World Gold Council
T +44 20 7826 4763
E Stephanie.mackrell@gold.org

Quintin Keanie
Capital MSL
T+44 20 7255 5154
E Quintin.Keanie@capitalmsl.com