Portugal continues to have among the biggest gold reserves

By On November 02, 2018

Portugal continues to have among the biggest gold reserves

Edition 1499

03 November 2018
Edition: 1499

Read this week's issue online exactly as it appears in print.

Home » News » Portugal continues to have among the biggest gold reserves Portugal continues to have among the biggest gold reserves in News · 01-11-2018 10:29:00 · 0 Comments

Portugal is among the world’s nations with th e largest stocks of gold. According to a study by the World Council, Portugal is currently listed 14th in the rankings of countries who boast the most gold.

In the past, repeated calls have been made to Portugal to sell off some its reserves, especially with gold prices at a high, as a means of balancing its accounts. Portugal currently holds around 363 tonnes of gold, with the United States topping the list.
Three Portuguese-language countries are on the World Gold Council list of the top 100 in terms of largest gold reserves in 2018, with a total of 454.2 tons, worth more than €15 billion.
Brazil was ranked 42nd, with 67.3 tons of gold, or 0.7 percent of its total reserves, followed by in 86th place Mozambique, with 4.4 tons of gold, corresponding to 5.2 percent of the country’s total reserves.
Based on the average market price in September of one troy ounce (31.1g), of $1,198.39 dollars, the reserves of these three countries al one total $17.5 billion (€15.3 billion).

Edition 1499
03 November 2018
Edition: 1499

Read this week's issue online exactly as it appears in print.

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