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Topic: Gold reserves

	Official gold reserves - Wikipedia, the free encyclopedia
		Gold reserves (or gold holdings) are held by central banks as a store of value.
		IMF gold reserves refers to 3,217 tonnes of gold held by the International Monetary Fund.
		The "Moscow Gold", the reserves of the Bank of Spain sent to the Soviet Union for storage by the Second Spanish Republic during the Spanish Civil War never to return.
	en.wikipedia.org /wiki/Official_gold_reserves (400 words)

	321gold: Gold and Economic Freedom by Alan Greenspan 1966
		But since it is rarely the case that all depositors want to withdraw all their gold at the same time, the banker need keep only a fraction of his total deposits in gold as reserves.
		When gold is accepted as the medium of exchange by most or all nations, an unhampered free international gold standard serves to foster a world-wide division of labor and the broadest international trade.
		They have created paper reserves in the form of government bonds which-through a complex series of steps-the banks accept in place of tangible assets and treat as if they were an actual deposit, i.e., as the equivalent of what was formerly a deposit of gold.
	www.321gold.com /fed/greenspan/1966.html (2311 words)

	Gold Reserves and Mineworkers \| The Gold Album: Action Pack \| Project Underground Report (Site not responding. Last check: 2007-10-30)
		Gold’s contribution to the South African economy underlies the historical and social fabric of the nation, and is key in understanding South Africa’s economic strength as compared with the rest of Africa.
		Gold mining is the largest sector in the country’s mining industry: in 1997, gold mining employed 343,922 employees, out of a total of 551,677 mining employees.
		Gold mining companies that have profited from the back-breaking labor of these workers need to be held accountable for their retraining.
	www.moles.org /ProjectUnderground/reports/goldpack/goldpack_c.html (1667 words)

	Asia Central Banks Upping Gold Reserves
		As gold is negatively correlated to the dollar, it is likely to be a beneficiary of this weaker dollar, he added.
		Medium-term, another reason for some Asian central banks to increase their gold reserves could be the use of the gold dinar, as a means to settle international trade amongst Islamic states.
		Gold traded as high as $850 an ounce in 1980, but over the last 20 years, this price has steadily declined, falling to a low of $252 in 1999.
	www.rense.com /general29/reszer.htm (654 words)

	business.iafrica.com \| company news Gold Fields' reserves down 18%
		World number four gold miner Gold Fields on Monday announced that its estimated gold ore reserves declined 18 percent to 64.8 million troy ounces at the end of the group's 2005 financial year from 79.3 million oz at the end of the 2004 year.
		The group's estimated gold ore resources fell 12 percent to 174.5 million oz at the end of June 2005 from 199 million oz at the end of June 2004.
		Gold Fields is bound to become increasingly international, using its South African base as the platform from which to grow globally," Thompson said.
	business.iafrica.com /company/496545.htm (581 words)

	Safe Haven \| Gold: Texas Hold'em
		Gold has doubled in the past five years and is trading at the highest in a quarter century.
		Gold was also purchased by Middle Eastern investors, whereby protecting their massive hoards of petrodollars, left their funds in gold instead of US dollars.
		Gold reserves have been dwindling due in part to the lack of exploration spending and the resultant lack of discoveries.
	www.safehaven.com /article-4468.htm (4640 words)

	Gold at What Price (Site not responding. Last check: 2007-10-30)
		Gold, once the foundation of currencies worldwide, may be on its way to becoming just another commodity.
		Key to whether gold in the future is a worth-while or worthless investment will be the decisions of national treasuries, central banks, and international institutions about whether to sell significant shares of their gold reserves.
		According to some investment analysts who follow gold markets, since 1971 when the International Monetary Fund prohibited its member countries from using the gold standard, central bank-held gold reserves have been, "the spent fuel of an obsolete monetary system" (Economist, 1992).
	www.moles.org /ProjectUnderground/reports/goldprice.html (584 words)

	MENAFN - Middle East North Africa . Financial Network News: Time to increase gold reserves (Site not responding. Last check: 2007-10-30)
		Their gold reserves are very low, both on an absolute and a relative level.
		A minimum rate of gold reserves like the European Central Bank (ECB) stipulates for its members (15 per cent) and an increase of gold reserves like Russia recently announced (from five to 10 per cent) certainly would be an advisable policy for the Gulf countries.
		The interest in gold by private Gulf investors is mirrored in the impressive rise of Dubai as a major gold-trading city in the world.
	www.menafn.com /qn_news_story_s.asp?StoryId=131256 (977 words)

	The Daily Reckoning PRESENTS: Hard money week
		When gold is accepted as the medium of exchange by most or all nations, an unhampered free international gold standard serves to foster a worldwide division of labor and the broadest international trade.
		Even though the units of exchange (the dollar, the pound, the franc, etc.) differ from country to country, when all are defined in terms of gold, the economies of the different countries act as one - so long as there are no restraints on trade or on the movement of capital.
		It was limited gold reserves that stopped the unbalanced expansions of business activity, before they could develop into the post-World War I type of disaster.
	nextraterrestrial.com /pdf/gold-greenspan.htm (1316 words)

	Switzerland gold reserves and Swiss National Bank
		Gold has for a long time been a normal commodity and the Swiss franc the legal means of payment.
		It is not clear that the partial gold backing for the Swiss franc is a breach of the IMF's Articles forbidding countries to peg their currencies to gold, but it is seen as contrary to their spirit.
		The initiative to revalue Swiss gold reserves and declare some 1,300 tonnes of it 'excess' was taken by the Swiss Finance Ministry.
	www.usagold.com /SwissGoldWGC.html (4058 words)

	Central Europe Review - Czechoslovak Gold
		The looting of Czechoslovakia's gold reserves began as part of the Munich Agreement of September 1938, through which Czechoslovakia was required to provide 14.5 tonnes of monetary gold as cover for the currency circulating in the, so called, "Sudeten" areas.
		The fact that the gold was transferred, as the archives confirm (3), was not due to dislike or even incompetence but rather because it was genuinely felt that there was no way for HMG to block a BIS transfer.
		In all, Nazi Germany looted 45 tonnes of gold from Czechoslovakia during the war, and its return was to become intimately intertwined in the beginnings of the Cold War.
	www.ce-review.org /00/11/brown11.html (2094 words)

	Gold
		She told the conference that the BOF's gold reserves amounted to 3 024 t, comprising 55% of its total gold and foreign exchange reserves or 3,7% of gross domestic product.
		Australia's gold output sank to a nine-year low in 2004 following exceptionally wet weather in Western Australia early in the year and a large number of plant closures.
		Gold production for the year was down to 261 tonnes, 6.5 per cent less than 2003, Melbourne consulting group Surbiton Associates said.
	investmenttools.com /futures/metals/welcome_to_the_page_about_gold.htm (1807 words)

	Time to Increase Gold Reserves - Zawya.com \| Middle East Business News
		The performance of gold mining stocks is even more impressive: The HUI index of gold mining stocks rose from 35 to more than 300 in the same period.
		A minimum rate of gold reserves like the European Central Bank (ECB) stipulates for its members (15 percent) and an increase of gold reserves like Russia recently announced (from five to 10 percent) certainly would be an advisable policy for the Gulf countries.
		The interest in gold by private Gulf investors is mirrored in the impressive rise of Dubai as a major gold trading city in the world.
	www.zawya.com /story.cfm/sidZAWYA20060403031016 (1179 words)

	Canada sells one quarter of gold reserves in June - Gold & Silver Forum
		Gold sales in June totaled 114,064 ounces, leaving government holdings at about 300,000 ounces on June 30, when the metal closed at $346 an ounce from May 30 when it closed at $361.40 an ounce, Finance Department data showed.
		Overall Canadian foreign reserve holdings fell by $724 million to $36.7 billion in June, largely due to exchange rate effects which accounted for $395 million in declines.
		Slightly more than half of Canada's foreign reserves are held in U.S. dollar-denominated assets so the Canadian dollar's appreciation of more than 15 percent so far this year has trimmed the relative value of government holdings.
	www.goldismoney.info /forums/showthread.php?t=1959 (887 words)

	Declining Gold Reserves Benefit Juniors
		Gold Mining companies have warned that supplies of the precious metal are poised to fall sharply.
		The latest producer to sound the alarm bell that the industry was running out of Gold faster than it could replace it was world number two miner AngloGold, which predicted that the big discoveries of the past 20 years would run dry.
		So there it is, no matter what the Gold price does, no matter how much money will be spend on new Exploration plays, is was clear that Gold reserves for the next couple of years was supposed to go down.
	news.goldseek.com /EricHommelberg/1095692401.php (1827 words)

	Why Gold? AnyGoldNow Exchange provider e-gold, e-Bullion, GoldMoney, Phoenix Silver, NetPay, GoldtoCard, Pecunix, ...
		Additionally, with Gold mining operations nearing the end of their lives and reduction in exploration and development expenditure over the past years, analysts suggest that global production is likely to drop further over the next few years.
		That quantity of Gold could not possibly have come out of anything but Central Banks Gold reserves, leased to Bullion Banks, which sold it on the Market, as most of the Gold demand (81%) is used up by jewelry, and therefore not recoverable for further sales as bullion.
		Gold should comprise between 3 percent and 5 percent of China's foreign-exchange holdings, from 1.3 percent now, Liu Shanen, an expert at the Beijing Gold Economy Development Research Centre, told a conference, Reuters quoted the China Gold newspaper as saying.
	www.anygoldnow.com /whygold.htm (2313 words)

	Gold & Juniors
		GOLD and JUNIORS is chapter IX of the Gold Drivers report and focus on the relation between gold and junior gold mining companies.
		Because the senior gold producers will be struggling in order to replace their dwindling gold reserves coming years.
		Now many gold analyst do suggest that this whole supply decline projection is exaggerated since there are still gold reserves available for another 10 years of supply at current production rates.
	news.goldseek.com /EricHommelberg/1117548000.php (3625 words)

	Canada sells 1/8 of gold reserves (Site not responding. Last check: 2007-10-30)
		Canada has been selling gold from foreign reserves since 1980, investing the proceeds in bonds and foreign-currency securities that yield a return which "far exceeds the return that the government gets on gold," the official said.
		The official said Canada's decision on which currency to use for foreign exchange reserves was driven by the difference between the cost of borrowing in that currency and the parallel return on investing it.
		But the growth of gold available for use as money, did not match the growth of the economy and this resulted in periodic deflationary cycles that were far worse than any recession I've seen in my lifetime.
	www.freerepublic.com /focus/news/817849/posts (4099 words)

	Declining Gold Reserves Benefit Juniors
		Gold reserves are running dry coming years and not enough funding has been taken place for sufficient Exploration in order to replace existing Gold reserves.
		Adding Gold reserves by means of acquisition inevitably leads to the same result, fewer ounces of Gold reserves per share.
		So from an investor's point of view it makes more sense to invest in Junior Companies which are increasing their Gold reserves substantially than investing your money in big companies which are facing a decline in Gold reserves and thus a decline in valuation.
	www.gold-eagle.com /editorials_03/hommelberg042303.html (1912 words)

	Gold Anti-Trust Action Committee \| Exposing the long-term manipulation of the gold market
		India to slash duties on scrap and raw gold imports
		The government is soon likely to relax scrap and raw gold import norms, paving the way for greater and cheaper imports of the precious metal into the world's largest gold- consuming country.
		Sources close to the Reserve Bank of India stated that the concerns regarding raw gold, which will be imported by classifying it under brass imports, have been resolved.
	www.gata.org (262 words)

	rediff.com: RBI rules out selling gold reserves: BS
		The RBI holds 357.75 tonne of gold, forming 6 per cent of the current value of its total foreign exchange reserves of about $50 billion.
		Central banks globally reduced their gold reserves to about 33,000 tonne till 2000 from 36,000 tonne till 1991, reflecting substantial sale by the banks and bringing down gold prices in the last decade.
		However, George M Stanley, manager, gold market analysis of the World Gold Council said, "The auction of gold bars by the Bank of England was over.
	www.rediff.com /money/2002/mar/22rbi.htm (281 words)

	Scoop: England To Sell Half It's Gold Reserves
		The price-dumping strategy forced gold sales on a massive scale which has enabled some financial elites to amass huge private gold holdings which were previously in public ownership.
		This cheapening of gold reserves value is having a world-wide impact.
		The Bank of England's gold sell-off strategy has also bankrupted weaker gold mining companies in the poorer countries and they are being acquired at fire-sale prices thus tightening the grip on future gold production.
	www.scoop.co.nz /stories/HL9909/S00131.htm (1027 words)

	Gold Reserves Looted from Venezuela's Central Bank (Site not responding. Last check: 2007-10-30)
		Central Bank (BCV) gold reserves have been trucked to the Caracas Fuerte Tiuna army garrison under armed escort by loyalist military officers who support strongman Hugo Chavez in his refusal to allow free and democratic elections.
		Immediately when the gold was moved to Fuerte Tiuna, Hugo Chavez and three of his cabinet ministers also moved there, and now sleep permanently in lodgings in the Circulo Militar, within the protected perimeters of the garrison.
		International credit rating agencies are now expected to downgrade Venezuela once again, as chaos in the Central Bank and the uncertainty of the country's gold reserves reveal the true state of affairs in the country's increasingly desperate Chavez government.
	www.freerepublic.com /focus/f-news/813488/posts (2532 words)

	$1.25bn copper, gold reserves discovered -DAWN - Top Stories; April 14, 2006
		ISLAMABAD, April 13: Major reserves of copper and gold in Balochistan’s Rekodiq area have been discovered which would contribute about $1.25 billion annually to the national economy, it is learnt.
		The copper and gold are currently traded at about $5,000 per ton and $600 per ounce respectively in the international market.
		The presence of a mineral deposits in the area was identified by the Geological Survey of Pakistan in early 1990s in collaboration with BHP Billiton of Australia.
	www.dawn.com /2006/04/14/top8.htm (572 words)

	International Gold Reserves (Site not responding. Last check: 2007-10-30)
		With this new reserve structure, the prevailing institutional incentive, from '71 to the end of the millennium, need no longer be one of "price suppression" for the perceived market value of gold.
		The reason this full transition has not already occurred is that institutional interest still exists to foster the smoothest practicable transition until that unknowable moment where the final remaining SNAP in the adjustment occurs.
		As a bonus, the real wealth value of same gold will provide a pleasant benefit upon full completion of the transition in world currencies' reserve structures.
	www.usagold.com /goldtrail/archives/auxTrail3.html (520 words)

	Bahrain Tribune Daily Newspaper, Bahrain
		It is high time that central banks of GCC countries increase their gold reserves, according to an economist with the Dubai-based Gulf Research Centre (GRC).
		“The gold reserves of central banks of GCC are very low, both on an absolute and a relative level.
		“A minimum rate of gold reserves like the European Central Bank (ECB) stipulates for its members (15 per cent) and an increase of gold reserves like Russia’s recent announcement (from 5 to 10 per cent) certainly would be an advisable policy for the Gulf countries.
	www.bahraintribune.com /ArticleDetail.asp?ArticleId=101242&CategoryId=5 (450 words)

	t a c i t u s \|\| Iran Withraws Gold Reserves (Site not responding. Last check: 2007-10-30)
		Tehran, 4 April (AKI) - The Iranian government is reported to have withdrawn its financial deposits from Swiss banks after the decision by the UN atomic watchdog to refer Iran's nuclear case to the UN Security Council over Western fears that Tehran is trying to build nuclear weapons.
		The gold reserves were transferred to the Markazi bank, the central bank of the Islamic Republic, while the cash was deposited in banks in the United Arab Emirates.
		The gold has been moved to Iran, which should be safe enough.
	www.tacitus.org /?op=displaystory;sid=2006/4/4/135342/0334 (317 words)

	Sino Gold - Reserves & Resources
		Sino Gold has a strong track record in increasing resources, as illustrated in the chart below.
		Drilling at Jinfeng during 2005 increased the Mineral Resource estimate to 4.0 million ounces (25.3 million tonnes at 5.0gpt gold) and upgraded current Inferred Resources to a higher status.
		In April 2006, Sino Gold announced a 38% increase in Jinfeng Ore Reserves to 2.9 million ounces (16.4 million tonnes at 5.4gpt gold).
	www.sinogold.com.au /newsite/our-projects/reserves-resources.htm (215 words)

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