Gold reserve

<p>A gold reserve is the <a href="/facts/Gold/1znknojp">gold</a> held by a national <a href="/facts/Central_bank/5j5xg3s2">central bank</a>, intended mainly as a guarantee to redeem promises to pay <a href="/facts/Depositor/qewqdqy2">depositors</a>, note holders (e.g. <a href="/facts/Paper_money/mm6H2XI4">paper money</a>), or trading peers, during the eras of the <a href="/facts/Gold_standard/jnG3YIGo">gold standard</a>, and also as a <a href="/facts/Store_of_value/WehIINXC">store of value</a>, or to support the value of the national <a href="/facts/Currency/g5GPGfTe">currency</a>.
</p><p>The <a href="/facts/World_Gold_Council/xNy1oVwQ">World Gold Council</a> estimates that all the gold ever mined, and that is accounted for, totalled 190,040 <a href="/facts/Metric_tons/gMymLmWv">metric tons</a> in 2019 but other independent estimates vary by as much as 20%. At a price of US$1,250 per <a href="/facts/Troy_ounce/UCv9PJ5j">troy ounce</a> ($40 per <a href="/facts/Gram/sRSW5RJb">gram</a>) reached on 16 August 2017, one metric ton of gold has a value of approximately $40.2 million. The total value of all gold ever mined, and that is accounted for, would exceed $7.5 trillion at that valuation and using WGC 2017 estimates.
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Gold reserve