21/11/2019

Belgium is resting on gold

Belgium, like many countries, has strong gold reserve

Belgium is resting on gold

The gold reserve of Belgium is substantial and represents 227.4 tons which corresponds to a value of almost 10 billion euros at today’s rate. Even if this amount is substantial, it is not intended for sale. Indeed, Belgium carefully keeps deposit to guard against any systemic risk and will use it as a shield in case of financial crisis. We can draw a parallel with a wealth manager who diversifies his portfolio by buying gold to protect against a decline in stock market prices or bonds,...

Belgium is obviously not the only country to sit comfortably on its gold. Russia and China have even increased their reserves considerably for a variety of reasons. Russia has, for example, increased its gold holdings from 500 tons in 2006 to ... 2200 tons in 2019, due to the sanctions imposed after their annexation of Crimea.

Although the National Bank of Belgium manages its gold holdings, the reserves themselves are not on our territory. Belgium left its gold on deposit in England, Canada and Switzerland. It has divided its reserves into three places to reduce the risk in case of war. These places are obviously the most secure in the world and correspond to the adage that says "do not put all your eggs in one basket".

States have understood that the yellow metal remains the safe haven par excellence for securing its holdings. A word to the wise,... good-bye, hello!

Source:  RTBF (18/11)

News See all
Here you will find important information on economic and financial news as well as information that may have an impact on your investments in gold or foreign currencies
The Gold Risks: Shine Without Stumbling in Gold Investments
2024-05-29

The Gold Risks: Shine Without Stumbling in Gold Investments

In the complex and sometimes tumultuous world of investments, gold shines as a safe haven, an anchor of security in a sea of volatility. However, investing in gold is...
Investing in gold - part 3: The different factors influencing the price of gold
2024-05-08

Investing in gold - part 3: The different factors...

The first steps towards investing in gold - part 3: The different factors influencing the price of gold
Gold Investment: Comparing Mining Stocks and Physical Gold
2024-04-23

Gold Investment: Comparing Mining Stocks and Physical Gold

In today's financial landscape, the allure of physical gold is in the spotlight. It offers a robust investment alternative to the...
Rising Safe Deposit Box Charges?
2024-04-22

Rising Safe Deposit Box Charges?

A major Belgian bank recently announced a significant increase in the rental fees for its safety deposit boxes, effectively doubling the costs for its entire range. This price hike came into effect...