10 Countries That Are Losing A Fortune On The Collapse In Gold
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Gold prices first fell below the $1,400 per ounce level in April.
For central banks that bought up 534.6 metric tons of gold last year this hasn't been a good time. Gold is well off its 52-week high of $1,804.
Global gold holdings totaled 31,793.9 tonnes as of June 2013, according to the latest report from the World Gold Council. This is up from 31,735.4 in May.
Note: CBGA refers to the Central Bank Gold Agreements. The first Agreement (CBGA 1) ran from September 27, 1999 to September 26, 2004. The second Agreement (CBGA 2) ran from September 27, 2004 to September 26, 2009. The third Agreement (CBGA 3) will run for five years from September 2009.
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