European central banks remain leaders for gold

Average gold holdings on the continent stand at 10.6 million ounces

European central banks hold higher levels of gold than their peers in other regions.

The average gold holdings of European central banks surveyed in Reserve Benchmarks 2020 stood at 10.6 million ounces (330 tonnes), versus a global average of 5.9 million ounces. The average holding for non-European countries stood at 1.6 million ounces. 

The average value of gold reserves stood at $11.2 billion per institution, using a gold price of $1,900 per troy ounce.

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