This website provides a range of information on the gold reserves held by central banks and official institutions throughout the world, including the historical background to gold as a monetary asset and an explanation of why gold is held as a reserve asset.

Background and history

Why central banks hold gold

Central bank agreements on gold

European monetary union and gold

Monetary history of gold

 

Statistics

A range of statistical data on official gold reserves is available from our Research and Statistics website, including the following:

World official gold holdings – to March 2008
World Gold Holdings – volume and value
Changes in official reserves statistics
Major changes in official reserves statistics 1990-2007
Latest statistics on sales under the Central Bank Agreements on Gold
Official reserves 1948-2006
Historical data

 

Research

In addition to the papers below that are particularly relevant to gold’s role as a reserve asset, an extensive range of research regarding gold’s investment characteristics is available from our Research and Statistics website.

Central Bank Gold Reserves: An historical perspective since 1845 by Timothy Green

(367kb) Gold as a Hedge against the US Dollar by Forrest Capie, Terence C Mills and Geoffrey Wood

Should Gold Exporters peg their Currencies to Gold? By Jeffrey Frankel

The IMF and Gold (Revised Edition) by Dick Ware

Gold as a Store of Value by Stephen Harmston

 

Case Studies

Central Bank Case Study: The Philippines

Central Bank Case Study: Switzerland