London, 28 April 2011

The World Gold Council today releases its regular statistical update on gold reserves in the official sector.  Sales of gold by signatories to the third Central Bank Gold Agreement (CBGA3) remain negligible, accounting for less than one tonne so far during the second year of the agreement (excluding the IMF limited gold sales programme).

Meanwhile, the central bank of Russia continues to make steady purchases in its long term programme of gold accumulation and Bolivia reported an increase of 7 tonnes of gold, taking its gold holdings to 35.3 tonnes. While Bolivia has not made any public comment on this increase in gold holdings, it is very likely that the central bank has simply decided to restore its gold holdings relative to its growing foreign currency reserves, similar to other recent emerging market central bank purchases.

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World_Official_Gold_Holdings_as_of_Apr2011_IFS.pdf

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