Brazil/Australian CB Gold Sales (from Kitco)
Brazil's gold reserves.
(aspro) Apr 14, 22:53
Whenever I have some spare time I intend to try to dig in to various official documents to get some hard data on gold - you may have read some recent posts on the Australian Reserve Bank.
Just dug out Brazil.
Banco Central do Brazil
Gold (including gold deposits and, if appropriate, gold swapped); volume
1998 Dec 9,234,000 troy ounces
1999 Dec 3,662,000
2000 Dec 2,118,000
2001 Feb 1,358,000
Footnote "includes available stocks of financial gold plus time deposits".
............
(a) So they had 287 tonnes in 1998, sold down to 65.9 tonnes by December last year, and then sold off another 23.7 tonnes in the next two months to February 2001; they had 42.2 tonnes left, equivalent to another two months selling at the recent rate - they should be out of gold by the end of this month!
(b) Notice the words "financial gold" in the footnote. Some portion (possibly almost all, as in Australia) is paper gold - ie, gold leased out.
===================== @Pragmatic
(aspro) Apr 14, 21:45
A read of the 2000 annual report from the Reserve Bank of Australia shows that they had gold reserves (end June 2000) of $A1,233 million (valued at that day's London fix); and that of that amount, $1,227 million worth was leased out, leaving $6 million physically present in their vaults.
They also state that the gold is leased to "financial institution". If not bullion banks, then what?
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