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7/29/2019 Changes Latest as at Nov2011 IFS
1/13
DISCLAIMER
This information is provided solely for general information and educational purposes. It is not, and should not be c
gold related products or any other products, securities or investments. It does not, and should not be construed as
other products, securities or investments.
This information does not purport to make any recommendations or provide any investment or other advice with re
other products, securities or investments, including without limitation, any advice to the effect that any gold related
investor. A decision to invest in gold, any gold related products or any other products, securities or investments sh
decision, prospective investors should seek advice from their financial advisers, take into account their individual fi
investment decision.
While the accuracy of any information communicated herewith has been checked, neither the World Gold Council
Council or any of its affiliates be liable for any decision made or action taken in reliance on such information or for
related to or connected with such information, even if notified of the possibility of such damages.
7/29/2019 Changes Latest as at Nov2011 IFS
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nstrued as, an offer to buy or sell, or as a solicitation of an offer to buy or sell, gold, any
acting to, sponsor, advocate, endorse or promote gold, any gold related products or any
pect to the purchase, sale or other disposition of gold, any gold related products or any
ransaction is appropriate for any investment objective or financial situation of a prospective
uld not be made in reliance on any of this information. Before making any investment
ancial needs and circumstances and carefully consider the risks associated with such
or any of its affiliates can guarantee such accuracy. In no event will the World Gold
ny consequential, special, punitive, incidental, indirect or similar damages arising from,
7/29/2019 Changes Latest as at Nov2011 IFS
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WORLD GOLD COUNCIL
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
37
38
39
40
41
42
43
4445
46
47
48
49
50
51
52
53
A B C D E F G H
Recent reported changes in central bank reserve holdingsFrom January 2002 (tonnes), Updated November2011
Jul 2011 to Dec 2011
Country Comments Jul Aug Sept Oct Nov Dec
Bolivia Purchases +7.0 +7.0
Colombia Purchases +2.3
Czech Republic -0.1
Kazakhstan Purchases and swaps -3.1 +3.1
Mexico Additions to reserves and trading -0.2 -0.2 -0.1
Mongolia Trading activity +0.9 -0.7
Philippines Buys locally produced gold; may
sell or retain in reserves -10.3 -19.1Russia Mainly purchases of gold in the
domestic market & other changes +4.4 +3.6 +6.7
Serbia +0.3
Sri Lanka Trading activity -8.0
Thailand Purchases +9.3 +15.6
Tajikistan Trading activity -1.2 +1.9 +1.0
Jan 2011 to Jun 2011
Country Comments Jan Feb Mar Apr May June
Belarus Purchases and swaps -0.1 +0.3 +2.3 +1.1 - -
Czech Republic +0.1 - -0.1 - - -
Greece Coin purchases and other changes -0.1 - - - - +0.3
Kazakhstan Purchases and swaps +1.6 - -1.6 - - +3.1
Korea Purchases - - - - - +25.0
Malta - - +0.1 - - -
Mexico Additions to reserves and trading -0.2 +14.8 +78.5 +5.9 -0.2 -0.1
Philippines Buys locally produced gold; may
sell or retain in reserves -0.5 - - -1.5 +1.6 +4.2
Russia Mainly purchases of gold in the
domestic market & other changes +0.6 +3.1 +18.8 +13.7 +6.0 +5.8
Serbia - - - - +0.5 -
Sri Lanka Trading activity +7.7 -5.4 -1.2 - +1.1 +0.5
Tajikistan +2.0 -1.2 +0.3 - +0.4 +0.0
Thailand Purchase - - +9.3 - - +18.7
Ukraine - - +0.1 - - +0.3
Jul 2010 to Dec 2010
Country Comments Jul Aug Sept Oct Nov Dec
Bangladesh Purchase of 10 tonnes from the - - +10.0 - - -
Belarus Purchases and swaps +1.5 - +0.4 - +5.0 +0.3
Bolivia - - - - - +7.0
GermanySales under CBGA2 -4.3 - -0.7 - - -0.8
Greece Coin purchases and other changes-0.1 - - - -0.1
Kazakhstan Purchases and swaps +3.0 -3.1 - - - -
This table aims to show major changes in reported central bank reserves and the reason for the changes,which are notalways the results of sales or purchases. In general changes of less than one tonne are not included unless they formpart of a longer-term programme. Central banks differ in whether gold out on swap is or is not included in reportedreserves. Under the IMF Standard Data Dissemination Standards such gold is included in reserves so swap activity doesnot result in any reported change. However not all central banks yet adhere to this and for others swap activity can result
in a change in reported reserves. Detailed notes are given at the end.
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WORLD GOLD COUNCIL
54
55
56
57
58
59
60
61
62
63
64
65
66
67
68
69
70
71
72
73
74
75
76
77
7879
80
81
82
838485
86
87
88
89
90
91
92
93
94
95
96
A B C D E F G H
Malta+0.1 -0.1 -
Mexico Long-term sales programme and
periodic additions to reserves. -0.1 -0.1 -0.1 -0.1 -0.2 -0.3
Mongolia Buying locally produced gold and
selling it - - - - - +1.1
Philippines Buys locally produced gold; may
sell or retain in reserves +4.0 +0.2 -0.2 -19.5 -1.0 -1.4Russia Mainly purchases of gold in the
domestic market & other changes +16.2 +9.3 +20.7 +19.2 +9.0 +4.5
Sri Lanka Additions to reserves +6.9 -6.7 - - - -
Tajikistan - +0.1 -1.0 +0.7 -0.3 +0.8
Thailand Purchase +15.6 - - - - -
Ukraine - +0.1 +0.1 +0.1 -
Venezuela Purchase of locally produced gold - - - +1.9 - -
Jan 2010 to Jun 2010
Country Comments Jan Feb Mar Apr May June
Belarus Purchases and swaps - -0.1 +0.2 -3.0 - +0.1
Czech Republic - -0.1 - - - -0.1
Greece Coin purchases and other changes
- - -0.1 -0.1 -0.2 -0.2
Kazakhstan Purchases and swaps - - +3.1 - -2.7 -3.4
Malta - - - - -0.1 -
Mexico Long-term sales programme and
periodic additions to reserves. -0.2 -0.1 -0.2 -0.1 -0.1 -0.1
Pakistan -1.1 - - - - -
Philippines Buys locally produced gold; may
sell or retain in reserves -0.1 +0.2 +9.5 +1.2 +4.5 +1.5
Russia Mainly purchases of gold in the
domestic market & other changes +4.6 +4.3 +18.2 +4.6 +22.5 +6.7
Saudi Arabia SAMA announced in June that gold
data from Q1 2008 has been - - - - - +180.0
Sri Lanka -0.2 +0.2 -0.4 -0.8 -2.6 +0.0Takijistan - - - +0.1 - +1.1
Ukraine - +0.1 +0.1 - - +0.1
Venezuela Purchase of locally produced gold - +3.1 - - - -
Jul 2009 to Dec 2009
Countr Comments Jul Aug Sept Oct Nov Dec
Belarus Purchases and swaps +0.1 +1.5 +6.0 - +0.1 +0.1
Czech Republic -0.1
France Sales under CBGA2 -0.5 -0.5 -9.1 - - -
Germany Sales under CBGA - - -0.7 - -0.9 -
India The purchase of 200 tonnes from
the IMF took place in October
- - - - +200.0 -
Kazakhstan Purchases and swaps -1.6 - - +3.1 -2.5 -1.6
Malta - - - -0.1 -0.1 -0.1
Mauritius The purchase of 2 tonnes from the
IMF took place in November - - - - +2.0 -
Mexico
periodic additions to reserves. -0.1 +0.9 -0.1 -0.1 -0.1 -0.2
Mozambique Unknown +0.3 -0.3 - - - -
Philippines Buys locally produced gold; may
sell or retain in reserves +0.2 - -3.3 -0.2 -5.9 +6.6
Russia Mainly purchases of gold in the
domestic market & other changes +18.3 +9.6 +13.0 +16.6 +6.1 +23.5
7/29/2019 Changes Latest as at Nov2011 IFS
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WORLD GOLD COUNCIL
97
98
99
100
101
102
103104105
106
107
108
109
110
111
112
113
114
115
116
117
118
119
120
121
122
123124125126
127
128
129
130
131
132
133134
135
136
137138139
140
141
142
143
A B C D E F G H
Serbia - - +0.1 - +0.1
Sri LankaAdditions to reserves - - - +3.3 +11.2 +1.3
Sweden Sales under CBGA2 - -3.7 -1.6 - - -
Ukraine - +0.1 - +0.1 +0.1 -
Venezuela Purchase of locally produced gold - - - - - +4.4
Jan 2009 to Jun 2009Country Comments Jan Feb Mar Apr May June
Belarus Purchases and swaps +1.4 +0.1 - +2.0 -0.6 -1.0
China The purchase of 454 tonnes of
gold, announced in April 2009 took
place over a six-year period from
2003 - 2009 - - - +454.0 - -
Czech Republic -0.1
France Sales under CBGA2 -5.0 -23.5 -10.9 -2.0 -2.3 -2.9
Germany Sales under CBGA2 - - - - - -4.3
Greece Coin purchases and other changes
- - -0.1 - - -
Jordan - -0.3 +0.3 - - -
Kazakhstan Purchases and swaps - - - +0.6 -0.3 +0.6
Malta - - +0.3 - +0.2 -0.2
Mexico
periodic additions to reserves. -0.2 -0.3 -0.2 -0.1 +1.9 +0.9
Mozambique Unknown - - - +0.2 -0.8 +0.3
Philippines Buys locally produced gold; may
sell or retain in reserves -0.3 +0.2 +0.2 +1.1 +0.2 +2.4
Russia Mainly purchases of gold in the
domestic market & other changes +4.1 +1.4 +6.8 +5.0 +3.6 +9.7
Serbia- +0.1 +0.1 - +0.1 -
Slovak Republic Transfer to ECB on joining
Eurozone (Gold is 15% of
contribution to ECB reserves) -3.4 - - - - -
Sweden Sales under CBGA2 -1.1 -0.9 -1.4 -1.4 -1.2 -0.1
Tajikistan +0.1 - - - - -
Ukraine - +0.1 +0.1 - - +0.1
Jul 2008 to Dec 2008Country Comments Jul Aug Sept Oct Nov Dec
Albania - - - - - -0.6
Belarus Purchases and swaps -1.1 +0.7 -1.0 +0.3 -0.3 -
Bulgaria +0.3 - - - - -
Czech Republic -0.1 - - - - -
France Sales under CBGA2 -8.4 -5.2 -8.2 -18.8 -1.3 -15.4
Germany Sales under CBGA2 - - -0.5 - - -
Greece Coin purchases and other changes
+0.1 - - -0.3 -0.2 -
Jordan - - -2.0 - - -Kazakhstan Purchases and swaps +4.3 -2.5 +1.4 - - -
Mexico Long-term sales programme and
periodic additions to reserves. +0.9 +0.9 -0.1 -0.6 +2.8 -0.3
Netherlands Sales under CBGA2 - - - - -8.0 -1.0
Philippines Buys locally produced gold; may
sell or retain in reserves - - +4.9 +12.0 +3.8 +0.3
Russia Mainly purchases of gold in the +9.6 +14.1 +9.2 +11.0 +3.1 +9.5
Serbia - - - +0.1 - +0.1
Sweden Sales under CBGA2 -0.8 -1.4 -1.1 -1.2 -6.2 -
Switzerland Sales under CBGA2 -13.1 -11.4 -12.6 - - -
Tajikistan +0.1 - +0.1 - +0.1 -
Ukraine -0.1 +0.1 - +0.1 - +0.1
7/29/2019 Changes Latest as at Nov2011 IFS
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WORLD GOLD COUNCIL
144
145
146147148
149150
151
152
153
154
155156
157
158
159
160
161
162
163
164
165
166
167
168169
170
171172
173174
175
176
177
178
179
180
181
182
183
184
185186
187188189190
191192
A B C D E F G H
Jan 2008 to Jun 2008
Country Comments Jan Feb Mar Apr May June
Belarus Purchases and swaps - +3.6 +6.1 -3.3 - -
Bul aria - - - - - -0.3
Cyprus Transfer to ECB on joining
Eurozone (Gold is 15% of
contribution to ECB reserves) -0.6 - - - - -Czech Re ulic - -0.1 -0.1 - - -
ECB transfer from Cyprus and Malta +0.9 - - - - -
France Sales under CBGA2 -16.1 -11.6 -7.0 -6.0 -5.3 -7.6
Germany Sales under CBGA2 - - - - - -4.3
Greece Coin purchases +0.1 +0.1 - +0.1 - -
Jordan +1.6 -3.1 +1.4 +0.6 -0.6 +0.6
Kazakhstan Purchases and swaps -1.9 - -0.3 - +1.3 -
Laos+1.5 - - - - -
Malta Transfer to ECB on joining -0.3 - - - - -
Mexico-
periodic additions to reserves. -0.2 -0.1 -0.3 -0.2 -0.2 -0.1
Mongolia
selling it -0.2 -2.1 - - - -
Paraguay - - +0.7 - - -Philippines Buys locally produced gold; may
sell or retain in reserves -2.1 -0.2 +0.2 +1.2 +2.4 -0.1
Russia Mainly purchases of gold in the
domestic market & other changes +0.5 +0.3 +5.8 +0.9 +1.6 +3.5
Sweden Sales under CBGA2 -1.1 -0.7 -0.4 -1.1 -0.6 -0.9
Switzerland Sales under CBGA2 -11.3 +10.9 -9.7 -12.5 -11.4 -12.1
Tajikistan - - - - +0.1 -
Ukraine - +0.1 +0.1 - +0.1 -
Jul 2007 to December 2007Country Comments Jul Aug Sept Oct Nov Dec
Austria Sales under CBGA2 -3.0 -0.5 -1.2 - - -
Belarus Purchases and swaps - -6.2 +1.6 - - +0.7
ECB Sales under CBGA2 - - - - - -42.0
France Sales under CBGA2 -8.7 -8.0 -7.9 -20.2 +11.9 -7.4
Germany Sales for coins under CBGA2
-3.1 - -0.1 - - -
Greece Coin purchase - - +0.1 +0.1 +0.2 -
Jordan - - - - +1.6 -
Kazakhstan Purchases and swaps -2.5 - -4.7 - +6.2 +0.6
Malta Purchase to offset ECB transfer? - - - - - +0.3
Mexico Long-term sales programme and
periodic additions to reserves. -0.1 +0.9 - -0.2 -0.1 -0.1
Mongolia uy ng oca y pro uce go an
selling it - - - - +0.9 +0.8
Mozambique Unknown - +0.9 -0.9 -0.3 - -
Netherlands Sales under CBGA2 - - - -16.5 -2.5 -0.5
Philippines Buys locally produced gold; may +1.4 +2.9 -17.6 +3.0 +1.9 -0.2
Qatar Purchases and a sale - +0.5 -1.5 +1.6 - -
Romania Unknown - - - -1.0 - -
Russia Mainly purchases of gold in the
domestic market & other changes +0.5 +10.8 +10.3 +9.7 +7.6 +4.5
Spain Sales under CBGA2 -24.9 - - - - -
Sweden Sales under CBGA2 -0.8 -1.1 -0.8 -0.4 -0.8 -0.7
Switzerland Sales under CBGA2 -34.1 -34.1 -30.8 -10.9 -11.3 -9.8
Tajikistan - - - - - +0.1
Ukraine +0.1 - +0.1 +0.1 +0.3 +0.1
7/29/2019 Changes Latest as at Nov2011 IFS
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WORLD GOLD COUNCIL
193
194
195
196
197
198
199200
201
202
A B C D E F G H
Jan 2007 to June 2007
Country Comments Jan Feb Mar Apr May June
Belarus Purchases and swaps - - -3.1 - - -
ECB Transfer from Slovenia (Jan 07)
and sale under CBGA (May 07) +1.9 - - - -37 -
France Sales under CBGA -10.2 -13.9 -6.7 -8.3 -5.5 -8.0
Germany Sales for coins - - - - -1.9Greece Coin purchase +0.1 +0.1 - - 0.1 0.1
Kazakhstan Purchases and swaps - - 0.6 0.3 1.6 -
Mexico
periodic additions to reserves. +0.9 -0.1 -0.1 - -0.1 -0.2
7/29/2019 Changes Latest as at Nov2011 IFS
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WORLD GOLD COUNCIL
203
204
205
206207
208209210211212213214215216
217218219
220
221
222223
224225226227228229230231
232
233
234235236237238239
240
241242243
244
245246
A B C D E F G H
Mongolia Buying locally produced gold and
selling it -2.7 - - - - -
Montenegro - - - -1.2 - -
Mozambique Unknown - - - - - +0.3
Philippines Buys locally produced gold; may
sell or retain in reserves -1.9 -4.2 3.2 -0.6 0.3 -0.3
Qatar Purchases +1.5 0.9 5.3 0.5 3.1 -
Russia Mainly purchases of gold in the +1.3 -2.5 - +1.5 0.9 +4.3Serbia - +0.1 - - - -
Slovenia Transfer to ECB on joining -1.9 - - - - -
Spain Sales under CBGA2 - - -39.8 -39.8 -30.6 -
Sweden Sales under CBGA2 -0.6 -0.5 -1.2 -1.0 -0.5 -1.3
Switzerland Sales under CBGA2 - - - - - -13.9
Ta ikistan - -0.1 - +0.1 - +0.1
Ukraine - - - +0.2 0.1 -
Venezuela - - -0.3 - - -
Jul 2006 to December 2006Countr Comments Jul Aug Sept Oct Nov Dec
Austria Sales under CBGA -2.0 -2.1 - - - -
ECB Sales under CBGA - - - - - -23.0
France Sales under CBGA -8.1 -4.8 -5.6 -9.6 -21.1 -7.2Greece Net purchase of coins - - - - 0.1 3.6
Indonesia
-17.7 - - -5.6 - -
Portu al Sales under CBGA -14.9 - -19.9 - - -
S ain Sales under CBGA - - -26.8 -6.0 -8.2 -
Netherlands Sales under CBGA - - - -1.0 -8.0 -5.0
Sweden Sales under CBGA -1.5 -1.0 -0.3 -0.3 -1.1 -0.6
Mozambi ue Unknown - - +1.2 - - -
Mon olia Buying locally produced gold and +1.8 - -0.1 -1.2 +0.9
Belarus Purchases and swaps - +3.1 -3.1 - +3.1 +3.1
Kazakhstan Purchases and swaps - - - - 4.7 +2.9
Philippines Buys locally produced gold; may
sell or retain in reserves. -2.6 -1.3 -0.1 +2.1 -0.7 -
Russia Mainly purchases of gold in the -1.1 +0.7 +3.0 +5.0 1.2 +6.1Serbia -0.1 +0.1 -0.2 - - -1.0
Ukraine - +0.1 +0.1 +1.0 0.1 -
Mexico Long-term sales programme -0.1 -0.1 -0.1 -0.1 -0.1 -0.2
Venezuela - - - - 0.3 -* Provisional indication from Eurosystem weekly financial statement and other sources.
Jan - June 2006
Country Comments Jan Feb Mar Apr May Jun
ECB Sales under CBGA - - - - -57.0 -
Austria Sales under CBGA -2.0 -0.5 -3.0 -3.5 -0.7 -
France Sales under CBGA -5.3 -11.9 -6.4 -11.2 -8.2 -6.7
Germany Sales under CBGA - - - - -2.0 -2.3
Netherlands Sales under CBGA - -10.5 -27.7 -1.8 - -
7/29/2019 Changes Latest as at Nov2011 IFS
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WORLD GOLD COUNCIL
247
248249
250
251
252
253254255
256257
258259
260261
262
263264
265266267268269
270
271
272
273
274
275
276
277
278279280
281
282
283
284
285
286
287
288
289
290
291
292
293
294
295
296
297
298
A B C D E F G H
Sweden Sales under CBGA -1.1 -1.3 -0.9 -1.0 -0.6 -0.3
Mozambique Unknown
-0.6 - - -0.6 +0.3
Mon olia Buying locally produced gold and +2.0 - - +2.0 +5.0
Philippines
sell or retain in reserves. -9.3 -0.7 +4.9 -4.5 -7.4 +8.8
Belarus Purchases and swaps -3.1 +3.1 - - -3.1
Russia
domestic market & other changes -0.2 -0.1 - - - -
Kazakhstan Purchases and swaps - - +3.1 -3.1 - -
Ukraine Unknown - +0.1 - +0.5 - +0.1
Chile Unknown +0.0 +0.1 - +0.5
El Salvador Unknown -2.2 - - -0.7 - -
Colombia - - - - -3.3 -
Mexico Long-term sales programme -0.1 -0.2 +0.9 -0.1 -0.2 -0.1
Total Including other countries -21.3 -22.3 -29.9 -25.5 -74.5 -3.2
* Provisional indication from Eurosystem weekly financial statement and other sources.
July-Dec 2005
Country Comments Jul Aug Sep Oct Nov Dec
Austria Sales under CBGA - - -5.0 - - -
Belgium Sales under CBGA -18.0 -12.0 - - - -France Sales under CBGA -6.0 - -3.1 -32.7 -15.0 -16.0
German Sales for coins under CBGA -0.5 - - - - -
Netherlands Sales under CBGA - - - -5.5 -15.0 -7.0
Portugal Sales under CBGA -9.8 - - - - -10.0
Spain Sales under CBGA - -10.0 - -20.9 -11.5 -3.2
Sweden Sales under CBGA - - - -0.9 -0.7 -0.4
Mozambique Unknown +1.2 +1.2 -0.6 -0.3 - -
Mongolia
selling it. - +0.9 -0.3 -0.2 -1.1 -3.6
Philippines Buys locally produced gold; may
sell or retain in reserves. Recently +3.0 -6.8 -10.4 -4.3 -4.3 -7.5
Belarus Purchases and swaps +3.0 -2.0 +2.0 - - +0.7
Kazakhstan Purchases and swaps +0.2 +0.3 +0.3 +0.3 +0.2 +0.1
Russia
domestic market & other changes -7.7 - +0.1 - - +0.2
Slovenia Unknown - - - - - -2.5
Tajikistan Unknown - +0.9 -1.1 - - +0.1
Ukraine Unknown - - +0.5 +0.1 +0.0 -
Brazil Unknown -1.2 - - - - -
Mexico Long-term sales programme -0.1 -0.1 -0.1 -0.1 +0.3 -0.1
Total Including other countries -32.3 -28.7 -16.9 -64.0 -46.0 -45.0
January to June 2005
Country Comments Jan Feb Mar Apr May Jun
ECB Sales under CBGA - - - -47.0 - -
France Sales under CBGA -7.5 -8.4 -11.2 -13.0 -14.8 -31.8
Germany Sales for coins under CBGA - - - - -3.4 -1.6
Netherlands Sales under CBGA -10.0 -23.5 -21.6 - - -Portugal
Sales under CBGA - - - - - -25.1
Spain Sales under CBGA - - - - -6.9 -13.1
Sweden Sales under CBGA -4.1 -10.9 - - - -
Switzerland Sales under CBGA -22.2 -20.5 -21.5 - - -
Mozambique -0.3 -0.3 - - +0.6 -1.2
Mongolia Buying locally produced gold and
selling it. +2.0 - +0.5
Philippines Buys locally produced gold; may
sell or retain in reserves. -10.0 -5.4 -9.7 -4.9 -5.1 -1.5
7/29/2019 Changes Latest as at Nov2011 IFS
10/13
WORLD GOLD COUNCIL
299
300
301
302
303
304
305306
307
308
309
310
311
312
313
314
315
316
317
318
319
320
321
322
323
324
325
326
327
328
329
330
331
332
333
334
335
336
337
338
339
340
341
342
343
A B C D E F G H
Belarus Purchases and swaps -2.0 - +0.5 0.5 -0.4 -
Kazakhstan Purchases and swaps +0.3 +0.2 +0.1 +0.3 +0.2 +0.2
Russia Mainly purchases of gold in the
domestic market & other changes -0.4 -0.1 +0.3 +0.2 - +7.4
Tajikistan +0.3 - - - - -
Qatar +0.7 - -1.4 +0.7 +0.7 -1.4
Argentina - -0.3 - - - -
Brazil - - -0.2 - - +1.2El Salvador - -2.0 - -0.9 -
Mexico Long-term sales programme -0.1 -0.1 -0.1 -0.1 -0.1 -0.1
Total Including other countries -56.3 -69.2 -65.1 -64.7 -29.5 -69.5
July-December 2004
Country Comments Jul Aug Sep Oct Nov Dec
Austria
Sales under CBGA - - - - - -10.0
Germany Sales for coins under CBGA -3.4 - - - - -
France
tonnes used to purchase BIS - - -0.6 -7.5 -23.2 -8.1
Portugal Sales under CBGA - - - - - -20.0
Switzerland Sales under CBGA -26.0 -23.6 -23.6 -22.5 -22.5 -19.8Mongolia Buying and selling locally produced
gold. +2.7 -1.1 -0.3 -1.1 +1.8 -4.2
Philippines Buys locally produced gold; may
sell or retain in reserves. +3.8 -2.4 +1.6 -15.2 -14.6 -1.9
Thailand Not known - - +0.7 - - -
Belarus Purchases and swaps +2.0 - -0.1 +0.2 -
Kazakhstan Purchases and swaps +0.4 +0.2 +0.3 +0.3 +0.3 +0.2
Macedonia Gold received from former
Yugoslavia - +3.4 - - - -
Russia Mainly purchases of gold in the
domestic market & other changes -1.0 +0.1 - -2.4 +0.1 +0.1
Tajikistan +0.4 - - - - -
Qatar - - - +0.4 -0.2 +0.5Argentina Purchases for reserves
diversification +10.9 +1.6 - - - -
El Salvador - - - - -1.6 -
Mexico Long-term sales programme - -0.1 -0.1 -0.2 -0.2 -0.3
Paraguay Sale - - -1.1 - - -
Venezuela Swaps. Reserves stable +0.3 - +0.3 - - +0.3
Total Including other countries -12.7 -23.9 -23.5 -48.6 -60.5 -62.0
January-June 2004
Country Comments Jan Feb Mar Apr May Jun
Germany Sales for coins under CBGA1
- -0.1 - - - -2.8
Portugal Sale under CBGA - - - - -34.9 -
NorwaySales -15.9 -4.0 -13.5 - -
Switzerland Sales programme under CBGA1
-25.0 -22.5 -24.8 -23.7 -21.4 -23.6
Mongolia Buying locally produced gold and
selling it. +0.5 +0.3 - +1.0 +1.0 -0.1
Philippines Buying locally produced gold and
selling some of it. Rest retained in
reserves which have increased
steadily over time. -4.4 -5.6 -3.7 +2.1 +3.4 +2.8
Thailand Not known - +1.6 - - +1.2 -
Kazakhstan Purchases and swaps +0.2 +0.1 +0.2 +0.3 +0.2 +0.1
Russia Mainly purchases of gold in the
domestic market & other changes - -0.4 - - +0.3 -
7/29/2019 Changes Latest as at Nov2011 IFS
11/13
WORLD GOLD COUNCIL
344
345
346
347
348
349
350351
352
353
354
355
356
357
358359
360
361
362
363
364
365
366
367
368
369370
371
A B C D E F G H
Argentina Purchases for reserves
diversification +17.4 +9.3 +1.6 +1.6 +12.5 -
Mexico Long-term sales programme -0.1 -0.1 -0.1 +0.4 -0.1 +0.1
Venezuela Swaps. Reserves stable -0.3 +0.3 - +0.3 - -0.3
Total Including other countries -27.7 -21.0 -40.5 -19.1 -33.6 -23.3
July -December 2003
Country Comments Jul Aug Sep Oct Nov DecCanada Long-term sales programme - -4.2 - - - -2.0
Germany Sales for coins under CBGA1
-3.5 - - - - -
Greece Transfer of coins to formal reserves
(July); sale in August2. +5.0 -20.0 - - - -
Netherlands Sales programme under CBGA1
-5.8 -5.0 -30.9 -23.4
Switzerland Sales programme under CBGA1
-26.9 -22.4 -24.1 -26.4 -22.5 -22.4
Ethiopia Sale - - - -7.6 - -
Mongolia Buying locally produced gold and
selling it. +0.8 -0.7 -1.0 +0.8 -1.0 -2.1
Philippines Buying locally produced gold and
selling some of it. Rest retained in
reserves which have increased
steadily over time. +2.2 -3.0 -8.8 +3.1 -11.6 +1.7Thailand Not known - +0.6 - +0.9 - -
Armenia
Sale - - - - - -1.4
Kazakhstan Purchases and swaps -18.3 +0.2 +0.3 +0.2 +0.2 +0.3
Macedonia Not known - -3.4
Russia Mainly purchases of gold in the
domestic market & other changes +0.5 -0.2 +0.2 +0.1 +1.0 +1.0
Ukraine Not known +0.1 -0.8
UAE Sale - - - - -6.2 -
Mexico Long-term sales programme -0.2 -0.1 -0.1 -0.2 -0.1 -0.2
Venezuela Swaps. Reserves stable +2.5 - -21.8 +21.2 +0.3 +0.3
Total Including other countries -37.8 -55.5 -59.2 -10.7 -70.9 -48.3
Jan to June 2003
Country Comments Jan Feb Mar Apr May June
7/29/2019 Changes Latest as at Nov2011 IFS
12/13
WORLD GOLD COUNCIL
372
373
374
375
376
377
378
379
380
381
382
383
384385
386
387
388
389
390
391
392
393
394
395
396
397
398
399
400
401
402
403
404
405
406
407
408
409
410
411
412
413
414
415
A B C D E F G H
Canada Long-term sales programme - -2.8 - -2.6 - -3.5
Germany Sales for coins under CBGA1
- - - - -2.8 -
Netherlands Sales programme under CBGA1
-9.1 - - - - -
Portugal Sales from options under CBGA1
- -29.9 - -44.8 - -
Switzerland Sales programme under CBGA1
-25.8 -22.1 -22.4 -23.6 -22.4 -22.4
South Africa Repayment of gold loan June 2003;
previously adjustments to gold
holdings held under loan which was
dollar denominated. -2.8 -2.8 - +1.9 +2.2 -48.2
Mongolia Buying locally produced gold and
selling it. -2.6 -1.0 +2.0 +0.9 -0.9 +0.8
Philippines Buying locally produced gold and
selling some of it. Rest retained in
reserves which have increased
steadily over time. -12.0 +4.1 +10.8 +1.1 +1.8 -5.4
Thailand Not known - - - - +0.6 -
Kazakhstan Purchases and swaps -0.5 -0.5 +0.5 - +9.0 +18.2
Russia Mainly purchases of gold in the
domestic market & other changes +0.1 -0.6 - +0.1 +0.2 +0.1
Ukraine Not known +0.1 -0.1
UAE Sale - - - - -6.2 -Mexico Long-term sales programme -0.1 -0.3 -0.2 -0.1 -0.2 -0.1
Venezuela Swaps. Reserves stable - - +2.8 +8.4 +6.5 +8.1
BIS Accounting reasons -5.3 - - - +1.8 -
Total Including other countries -59.1 -55.4 -5.0 -58.5 -21.2 -53.2
July to December, 2002
Country Comments July Aug Sep Oct Nov Dec
Canada Long-term sales programme - -2.8 - -2.8 - -2.6
Netherlands Sales programme under CBGA1
- - - -5.0 -5.0 -13.9
Switzerland Sales programme under CBGA1
-26.1 -23.3 -23.6 -25.8 -23.6 -21.2
Portugal Sales using options under CBGA1
- - - - - -14.8
South AfricaAdjustments to gold holdings underdollar denominated gold loan -1.9 -2.2 - - - -0.3
Zimbabwe Unknown +0.4 - - - -0.3 +0.4
China Addition to reserves - - - - - +99.5
Mongolia Buying locally produced gold and
selling it +1.2 +1.9 +0.7 -0.3 -1.0 +0.7
Philippines Buying locally produced gold,
selling some. Rest retained in
reserves. +1.8 +3.5 +2.5 +3.0 - +5.1
Kazakhstan Purchases and swaps +0.6 - -0.6 +0.2 +0.1 -1.4
Russia Mainly purchases of gold in the
domestic market & other changes - - +0.1 +0.1 +0.3 +0.4
Chile Sales - -0.1 - - - -
Mexico Long-term sales programme -0.1 -0.1 +1.9 -0.1 -0.2 -0.3
Suriname -7.3 - -0.1 -0.1 +0.1 -0.1
Venezuela Swaps. Reserves stable -2.2 - - - +1.9 +2.2
Total Including other countries -32.3 -25.5 -19.0 -29.5 -28.6 +51.3
January to June 2002
Country Comments Jan Feb Mar Apr May June
Canada Long-term sales programme - -3.0 - -3.0 - -
Austria Sales programme under CBGA1
- - - -30.0 - -
Germany Sales for coins under CBGA1
- - -8.4 - - -
Netherlands Sales programme under CBGA1
- - - - -7.5 -1.5
Switzerland Sales programme under CBGA1
-24.6 -22.4 -22.7 -23.6 -24.6 -20.2
7/29/2019 Changes Latest as at Nov2011 IFS
13/13
WORLD GOLD COUNCIL
416
417
418
419
420
421
422
423
424
425
426
427
428
429
430431
432
433
434
435
436
437
438
439
440
441
442
443
444445
446
447
448
A B C D E F G H
United Kingdom Sales programme under CBGA1
-20.5 - -20.3 - - -
South AfricaAdjustments to gold holdings under
dollar denominated gold loan - - +0.3 - - -0.3
Zimbabwe Unknown +0.4 -2.7 -0.6 +0.5 +1.3 -1.1
Mongolia Buying locally produced gold and
selling it -2.0 -0.2 -1.8 -0.8 - +0.3
Philippines Buying locally produced gold,selling some. Rest retained in
reserves. +0.3 +0.7 - +2.2 +1.7 +2.5
Kazakhstan Purchases and swaps +0.2 -2.6 - -0.6 - -
Russia Mainly purchases of gold in the
domestic market & other changes +1.2 +0.1 +2.5 +1.6 -41.5 -
Oman - - - - -9.0 -
Chile Sales - - -1.9 - - -
Bolivia -0.9
Mexico Long-term sales programme -0.5 -0.3 -0.1 -0.1 -0.2 -0.1
Venezuela Swaps. Reserves stable +1.6 - +12.1 -10.6 -8.7 -8.1
Total Including other countries -44.5 -30.8 -40.1 -64.7 -85.5 -30.2
Notes:
Note for USA: Data reported in the IFS from September 2001 until January 2003 were rounded to thenearest m oz (262 m oz). From February they were reported again to 2 decimal places (261.54 m oz). Inaddition to causing an apparent rise and fall (of around 14 tonnes) in data for the USA on those dates, thisalso affected the figure for all countries. Data in this table have been adjusted to show the true change.There are sometimes minor fluctuations in US gold holdings due to the purchase of gold for coins and thecoins subsequent sale. These are not included in the above table.
1. CBGA: Central Bank Gold Agreement. The first term of CBGA covered September 1999 to September2004, the second CBGA covered September 2004 to September 2009 and the third CBGA coversSeptember 2009 to September 2014.2. Not under CBGA as Greece was not a member of EMU at the time the first CBGA was signed.
- zero or less than 0.05. Where cells are blank information is not yet available.
Sources: IMF, International Financial Statistics; ECB, Weekly Financial Statement, national sources.