Report: Estonia Ties with Chile for Lowest Gold Reserve

Photo: Wikimedia Commons
12/30/2011 10:36 AM
Category: Economy

Estonia has tied with Chile for the title of smallest gold reserve in the latest report by the World Gold Council.

The central bank's 200 kilos of gold put it just behind Malawi, Mauritania and Uruguay. However, other countries not included in the report, such as Costa Rica, Kenya and Oman, have a lower supply or no gold reserve at all, according to IMF data.

In contrast to Estonia's minuscule reserve, its northern neighbor Finland has 49.1 tons of gold, while Latvia's central bank has 7.7 tons.

The countries with the world's largest reserves, according to the report, are the United States, which has 8,134 tons, and Germany, with 3,396 tons.

September saw gold prices reach an 11-year high of 1,923.70 US dollars per ounce.

Steve Roman

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