Dutch not planning to examine gold reserves

Economy December 13, 2012

Dutch not planning to examine gold reserves

AMSTERDAM (AP) — The Dutch central bank has no plans to physically inspect its gold reserves held in other countries, despite recent moves by Germany's Bundesbank to do so.

Finance Minister Jeroen Dijsselbloem cited yearly accounting procedures and his trust in foreign central banks where Dutch gold is stored, in a letter to parliament published Thursday. Dijsselbloem said that 51 percent of Dutch gold reserves are in New York, 18 percent in London, 20 percent in Ottowa, Canada, and 11 percent in Amsterdam.

According to a 2010 publication, the Dutch central bank owns 612 metric tons of gold, worth roughly €25.7 billion ($33.6 billion) at current prices. The Dutch bank sold off more than half its reserves during the 1990s and a little in the 2000s, stopping in 2008.

Subjects
- Business,
- Reserve assets,
- Economy,
- Financial services
Locations
- Western Europe,
- Europe,
- Netherlands
Organisations
- Netherlands government

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