PROF. MUHONGO: IMPORTANCE OF GOLD RESERVES IN NATIONAL CENTRAL BANKS

*Strengthening of values of national currencies

*Counteracting rising inflation

*Gold is the most trusted treasure capable of surviving numerous economic turbulences (e.g. Libya has 117 tons of gold in reserve)

2022 - Top 10 countries with the largest GOLD reserves

1. USA: 8,133 tons

2. GERMANY: 3,359 

3. ITALY: 2,452

4. FRANCE: 2,436

5. RUSSIA: 2,299

6. CHINA: 1,948

7. SWITZERLAND: 1,040

8. JAPAN: 846

9. INDIA: 754

10. NETHERLANDS: 612

NB: See below breaking news from India - it added 12.5 tons of gold in July 2022

2022 - Top 10 AFRICAN countries with GOLD reserves

1. ALGERIA: 174 tons

2. SOUTH AFRICA: 125

3. LIBYA: 117

4. EGYPT: 80.73

5. MOROCCO: 22.12

6. NIGERIA: 21.37

7. MAURITIUS: 12.44

8. GH…

[12:07 PM, 8/6/2022] Mhe Muhongo: IMPORTANCE OF GOLD RESERVES IN NATIONAL CENTRAL BANKS

*Strengthening of values of national currencies

*Counteracting rising inflation

*Gold is the most trusted treasure capable of surviving numerous economic turbulences (e.g. Libya has 117 tons of gold in reserve)

2022 - Top 10 countries with the largest GOLD reserves

1. USA: 8,133 tons

2. GERMANY: 3,359 

3. ITALY: 2,452

4. FRANCE: 2,436

5. RUSSIA: 2,299

6. CHINA: 1,948

7. SWITZERLAND: 1,040

8. JAPAN: 846

9. INDIA: 754

10. NETHERLANDS: 612

NB: See below breaking news from India - it added 12.5 tons of gold in July 2022

2022 - Top 10 AFRICAN countries with GOLD reserves

1. ALGERIA: 174 tons

2. SOUTH AFRICA: 125

3. LIBYA: 117

4. EGYPT: 80.73

5. MOROCCO: 22.12

6. NIGERIA: 21.37

7. MAURITIUS: 12.44

8. GHANA: 8.74

9. TUNISIA: 6.84

10. MOZAMBIQUE: 3.94 

*Burundi: 0.03 tons

*Kenya: 0.02 tons

From:

Sospeter Muhongo