Friday , August 19 2022

The only gold ingot in central Estonia bank



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11 kg of gold bars are not pure enough to be used in financial transactions.

A gold ingot weighs about 12.5 kg. Picture: strategygold.

A gold ingot weighs about 12.5 kg. Picture: strategic.

The Central Bank of Estonia has only one 11 kilogram gold bullion, which has been in existence for 97 years, Fabio Filipozzi, head of the financial market department, revealed during the centenary of the establishment of the bank.

Gold bars are estimated to cost half a million EUR but are not pure enough to be used in financial activities. Filipozzi says it is worth the "exhibition" mainly.

Estonia sold most of its gold reserves in the 1990s and invested in liquid assets such as bonds and stocks. They are currently the second lowest gold reserve in Europe with 256 kg. Most are stored in foreign banks, mainly in the United States for security reasons. The country with the lowest gold reserves in Europe is Malta with 90 kg.

The countries with the largest funds of gold in the world are the United States (8,133.5 tons), Germany (3,369.7 tons), Italy (2,451.8 tons), France (2,436 tons) and Russia (2,150 tons). tons).

Phuong Vu (Follow RT)

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