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How much gold does the Canadian government have in reserve?

Question #150683. Asked by BigTriviaDawg.
Last updated Feb 21 2024.
Originally posted Feb 21 2024 9:04 PM.

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psnz star
Answer has 2 votes
psnz star
5 year member
1008 replies avatar

Answer has 2 votes.
It would seem that Canada sold its reserves and so does not have anything substantial on hand. This is despite the country being a major gold producer.

link https://www.ceicdata.com/en/indicator/canada/gold-reserves
The rationale offered by Canada for the sell-off is that genuine bullion bars cannot be sold as readily as, example, government bonds. Having gold is costly in terms of storage. Canada is in a special position. They choose an alternative to retaining gold reserves, which is what many other countries do.
link https://aubullion.ca/exploring-the-reasons-why-canada-doesnt-own-any-gold/
Response last updated by psnz on Feb 21 2024.
Feb 21 2024, 9:07 PM
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