DUSHANBE, March 27, Asia-Plus — According to report by Research Center at the World Gold Council (WGC), Tajikistan with 1.7 tons of gold stands in the 92nd place globally in terms of gold reserves..
We will recall that at the end of last year, Tajikistan with 1.6 tons of gold was ranked 91st.
WGC says the United States still tops the world in gold reserves. The US gold stock amounts to 8,133.5 tons. The United States is followed by Germany, which has the gold stock of 3,417.4 tons. The International Monetary Fund with 3,217.3 tons of gold is among the top three.
Russia with 450.9 tons of gold was ranked 11th, Kazakhstan with 67.7 tons of gold was ranked 38
th
, and Ukraine with 26 tons of gold was ranked 51st.
According to WGC, monetary authorities have long held gold in their reserves. Today their stocks amount to some 30,000 tons – similar to their holdings 60 years ago. It is sometimes suggested that maintaining such holdings is inefficient in comparison to foreign exchange. However, there are good reasons for countries continuing to hold gold as part of their reserves.
Founded in 1987, the World Gold Council is funded by the world”s leading gold mining companies, representing 26 companies and around 40% of total gold production. It is an international, not for profit organization, with offices in India, China, Japan, the Middle East, Turkey, Western Europe and North America.
As the gold industry”s key marketing body, the World Gold Council works closely with jewelry retailers, manufacturers, wholesalers, banks, investment companies and distribution specialists to promote the use of gold in jewelry and industrial applications, as well as by central banks and other official sector institutions. We seek to improve access to gold for investors and maintain an active investor education program.
