Central banks face $450bn in paper losses from gold holdings

gold56468

Central banks have taken a paper loss of $447 billion from their bullion reserves after the price of gold fell 25% in the first half of 2013, data from the World Gold Council (WGC) released today show. The plunge in gold prices has dealt a particularly hard blow to central banks that loaded up on the bullion during the past couple of years, as well as those that may need to sell gold to cover pressing liabilities.

The Federal Reserve, whose stated gold holdings of 8,133 tonnes did not change ove

To continue reading...

You need to sign in to use this feature. If you don’t have a Central Banking account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an indvidual account here: