World central bank gold holdings down 3.2%

Analyst John C Tumazos of Prudential Financial said on Tuesday 2 November that world central bank gold holdings have declined by 3.2% since November 2002.

In a research note published on Tuesday morning, the analyst said that the US continues to hold more than 25% of the global gold reserves, despite a decline in its individual reserves in the period since November 2002. The gold reserves of China, Venezuela and Argentina have increased during the two-year period, while Switzerland, Portugal,