Accounting change behind Saudi gold surge


The Saudi Arabian Monetary Agency (Sama) has said a doubling in its gold holdings is the result of an "adjustment" in its accounts.

Statistics issued on Friday by the World Gold Council, a trade body for the metal, showed that Saudi Arabia's gold reserves jumped to 322.9 tonnes, from 143 tonnes in March 2010, when the body last issued figures. At the current level, gold accounts for 2.8% of the Sama's reserves, and gives it the 16th largest share of the metal worldwide. The figures for March pla

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