Gold reserve
State-held stockpile of gold bullion
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📌 Topics
- Economics (1)
- Finance (1)
- Middle East Politics (1)
🏷️ Keywords
Lebanon (1) · Gold reserves (1) · Central Bank (1) · Economic crisis (1) · Beirut (1) · Lebanese pound (1) · Hyperinflation (1)
📖 Key Information
A gold reserve is the gold held by a national central bank, intended mainly as a guarantee to redeem promises to pay depositors, note holders (e.g. paper money), or trading peers, during the eras of the gold standard, and also as a store of value, or to support the value of the national currency.
The World Gold Council estimates that all the gold ever mined, and that is accounted for, totalled 190,040 metric tons in 2019 but other independent estimates vary by as much as 20%.
📰 Related News (1)
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🇺🇸 Cash-strapped Lebanon finds itself sitting on a gold mine, as precious metal prices surge
Tiny Lebanon sits on one of the largest gold reserves in the Middle East and its government is weighing whether to use that stockpile to restore a cri...
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People and organizations frequently mentioned alongside Gold reserve:
- 🌐 Financial crisis (1 shared articles)
- 🌐 Lebanon (1 shared articles)
- 🌐 Beirut (1 shared articles)
- 🏢 Central bank (1 shared articles)