After receiving several queries from central banks seeking assistance on this issue, the World Gold Council commissioned this Guidance, providing a common accounting framework for monetary gold.

  • As monetary gold is held for similar reasons among all central banks, it seems appropriate for there to be a single method for the accounting and reporting of this asset by central banks.
  • Current general purpose financial reporting frameworks lack appropriate guidance on accounting for monetary gold.
  • An earlier World Gold Council study identified seven different general approaches currently used, making comparability difficult, while weakening the central banks’ accountability framework.
  • The adoption of this Guidance will help monetary authorities recognise and account for monetary gold in an appropriate and consistent manner, while also enhancing financial statement comparability and accountability.