Changes Latest as at Nov2011 IFS

7/29/2019 Changes Latest as at Nov2011 IFS

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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.


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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,


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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


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


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

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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


sell or retain in reserves +4.0 +0.2 -0.2 -19.5 -1.0 -1.4Russia Mainly purchases of gold in the


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 - -



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 -



Pakistan -1.1 - - - - -


sell or retain in reserves -0.1 +0.2 +9.5 +1.2 +4.5 +1.5



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 - - - -


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 - - - -


sell or retain in reserves +0.2 - -3.3 -0.2 -5.9 +6.6




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103104105

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123124125126

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133134

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137138139

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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


- - -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


sell or retain in reserves -0.3 +0.2 +0.2 +1.1 +0.2 +2.4



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 - - - - -


Germany Sales under CBGA2 - - -0.5 - - -


+0.1 - - -0.3 -0.2 -

Jordan - - -2.0 - - -Kazakhstan Purchases and swaps +4.3 -2.5 +1.4 - - -


periodic additions to reserves. +0.9 +0.9 -0.1 -0.6 +2.8 -0.3

Netherlands Sales under CBGA2 - - - - -8.0 -1.0


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


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WORLD GOLD COUNCIL

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146147148

149150

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155156

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165

166

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168169

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171172

173174

175

176

177

178

179

180

181

182

183

184

185186

187188189190

191192

A B C D E F G H



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 - - - - -


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-


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




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


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 - -



Spain Sales under CBGA2 -24.9 - - - - -


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


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194

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199200

201

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A B C D E F G H

Jan 2007 to June 2007


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


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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


selling it -2.7 - - - - -

Montenegro - - - -1.2 - -

Mozambique Unknown - - - - - +0.3


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 -


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


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 -


Germany Sales under CBGA - - - - -2.0 -2.3

Netherlands Sales under CBGA - -10.5 -27.7 -1.8 - -


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WORLD GOLD COUNCIL

247

248249

250

251

252

253254255

256257

258259

260261

262

263264

265266267268269

270

271

272

273

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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


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


January to June 2005


ECB Sales under CBGA - - - -47.0 - -


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


selling it. +2.0 - +0.5


sell or retain in reserves. -10.0 -5.4 -9.7 -4.9 -5.1 -1.5


10/13

WORLD GOLD COUNCIL

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300

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305306

307

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310

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312

313

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315

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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 -



domestic market & other changes -0.4 -0.1 +0.3 +0.2 - +7.4


Qatar +0.7 - -1.4 +0.7 +0.7 -1.4

Argentina - -0.3 - - - -

Brazil - - -0.2 - - +1.2El Salvador - -2.0 - -0.9 -



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


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 -


Macedonia Gold received from former

Yugoslavia - +3.4 - - - -


domestic market & other changes -1.0 +0.1 - -2.4 +0.1 +0.1


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


January-June 2004



- -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


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 -



domestic market & other changes - -0.4 - - +0.3 -


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


July -December 2003

Country Comments Jul Aug Sep Oct Nov DecCanada Long-term sales programme - -4.2 - - - -2.0


-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


-26.9 -22.4 -24.1 -26.4 -22.5 -22.4

Ethiopia Sale - - - -7.6 - -


selling it. +0.8 -0.7 -1.0 +0.8 -1.0 -2.1




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


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 -


Venezuela Swaps. Reserves stable +2.5 - -21.8 +21.2 +0.3 +0.3


Jan to June 2003



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


- - - - -2.8 -


-9.1 - - - - -

Portugal Sales from options under CBGA1

- -29.9 - -44.8 - -


-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


selling it. -2.6 -1.0 +2.0 +0.9 -0.9 +0.8




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


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 -


July to December, 2002

Country Comments July Aug Sep Oct Nov Dec

Canada Long-term sales programme - -2.8 - -2.8 - -2.6


- - - -5.0 -5.0 -13.9


-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


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


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


Canada Long-term sales programme - -3.0 - -3.0 - -

Austria Sales programme under CBGA1

- - - -30.0 - -


- - -8.4 - - -


- - - - -7.5 -1.5


-24.6 -22.4 -22.7 -23.6 -24.6 -20.2


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


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 - -


domestic market & other changes +1.2 +0.1 +2.5 +1.6 -41.5 -

Oman - - - - -9.0 -

Chile Sales - - -1.9 - - -

Bolivia -0.9


Venezuela Swaps. Reserves stable +1.6 - +12.1 -10.6 -8.7 -8.1


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.

Changes Latest as at Nov2011 IFS

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