The amount of gold reserves of central banks and where they are kept have always been a matter of curiosity.
Gold is an important commodity for central banks. reserve presence. According to the gold reserve data of the central banks of the countries of the World Gold Council, as of the end of 2021, the USA maintains its first place with 8 thousand 134 tons of gold reserves.
Reserve Option Mechanism (RUM), which does not include the gold held by the CBRT in its calculation, World Gold CouncilAccording to the calculations of Turkey, Turkey ranks 11th among the countries with the highest gold reserves in the world.
CBT‘s gold reserves are managed in accordance with international standards, within the terms and conditions of Law No. 1211, within the framework of the relevant bank legislation, adhering to the reserve management policy and international banking practices.
Based on the importance of diversification in reserve management, strategically held gold assets stand out due to their low correlation with other asset classes. In order to diversify its reserve investments, the CBRT continues to increase its gold assets if the market conditions are suitable.
Most of the gold reserves are in Turkey
According to the Central Bank’s 2021 Annual Report, there was 657.7 tons of gold of international standard as of the end of the year. 461 tons of this is the CBRT’s gold.
78 tons of the relevant gold reserves are held by the Bank of England (BoE), 34 tons are kept at the CBRT and 349 tons are held at Borsa Istanbul.
The CBRT regularly and transparently shares data on foreign exchange and gold reserves with the public in accordance with international standards. As of May 6, the CBRT gold reserve increased by 25.7 tons compared to the end of 2021 and reached 683.4 tons. As of today, it is at the level of 688.6 tons.
On the other hand, a decrease of 10 dollars in the price of an ounce of gold affects the valuation negatively by 230 million dollars in reserve.
In the CBRT’s electronic data distribution system, the bank’s gold data can be accessed on a weekly basis via the “Central Bank Weekly Status” under “CBRT Balance Sheet Data”.
The series in question includes data on the bank’s gross gold with and without international standard, the Banks’ Free Gold Warehouse, the Banks’ Gold Collateral Warehouses, the Banks Reserve Gold, and the Treasury’s International Standard and Non-Gold Gold.
In addition, some of the gold that is of international standard belongs to the CBRT, and some belongs to the banks and the Treasury, which deposit them for required reserves and collateral and give them as free gold warehouses.
The gold in question is kept in the CBRT vaults, Borsa Istanbul and the Bank of England.
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