Three Portuguese-speaking countries, Mozambique included, hold gold reserves worth more than US$17 billion

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Three Portuguese-speaking countries, Mozambique included, hold gold reserves worth more than US$17 billion

2:48 CAT | 25 Oct 2018

In file CoM

Three Portuguese-speaking countries make up the World Gold Council’s list of the largest gold reserves in 2018, totalling 454.2 tonnes and, according to Lusa estimates, worth US$17.5 billion.

In the World Gold Council Latest Official World Gold Reserves released earlier this month and consulted by Lusa today, Portugal ranks 14th with 382.5 tons of gold, corresponding to 66.3% of the country’s total reserves.

Brazil, in 42nd place, has 67.3 tons, equivalent to 0.7% of its total reserves.

Mozambique, in 86th position, holds 4.4 tons of gold, corresponding to 5.2% of the country’s total reserves.

Taking into account the September gold average price per troy ounce (31.1 grams) of $1,198.39, the combined reserves of these three countries are worth a total of US$17.5 billion.

To these figures can be added the approximately 19 tonnes of gold, worth almost EUR 690 million, which, according to the latest accounts of the National Bank of Angola, were in the Angolan central bank’s custody at the end of 2017.

Source: Lusa