10 Largest Gold Reserves By Country

Gold definitely has caught the public’s attention; for proof, just look at the number of cash for gold ads. Gold has been rising since 2001 and its near vertical rise over the last two years helps explain some of the recent fascination, but political actions have helped as well. In the United States, Rep. Ron Paul and others have called for a return to the gold standard. Elsewhere, Venezuelan President Hugo Chávez recently nationalized his country’s gold industries, and some analysts have said countries should dip into their gold reserves to alleviate the sovereign debt crisis. With all these recent stories, we wanted to see which countries actually have the most gold in their reserves, based on information from the World Gold Council. [Take a look at the list below.] Words: 565
So says Michael J. McFarlin (www.futuresmag.com) in excerpts from his original article* as further edited ([ ]), abridged (…) and reformatted (some sub-titles and bold/italics emphases) by Lorimer Wilson, editor of www.FinancialArticleSummariesToday.com (A site for sore eyes and inquisitive minds) and www.munKNEE.com (Your Key to Making Money!) where deemed appropriate to provide clarity and brevity to ensure a fast and easy read. The article’s views and conclusions are unaltered and no personal comments have been included to maintain the integrity of the original article. Please note that this paragraph must be included in any article re-posting to avoid copyright infringement.
McFarlin goes on to say:
Honorable Mention: Venezuela
Although Venezuela technically is number 13 on the list behind Taiwan [#11] and Portugal [#12], Venezuela President Hugo Chávez’s move to nationalize his country’s gold industry was the catalyst for this list. With gold and oil under his control, perhaps now he can possess that pinnacle of dictatorial decadence…
Tonnes: 322.9
% of reserves: 60.8%
#10: India
The world’s second most populous country barely made the top 10 list…[even though it] consumes more gold than any other…
Tonnes: 557.7
% of reserves: 8.7%
#9: Netherlands
Although known for being a fairly liberal society, the Netherlands is fairly conservative in its financial reserves…
Tonnes: 612.5
% of reserves: 58.9%
#8: Japan
Gold only constitutes a very small percentage of Japan’s overall reserves. Like another Asian country on this list, Japan holds a significant number of U.S. dollars in its reserves…
Tonnes: 765.2
% of reserves: 3.3%
#7: Russia
As the world’s number five gold producing nation, Russia’s gold reserves have grown significantly over the last couple years…
Tonnes: 836.7
% of reserves: 7.7%
#6: Switzerland
Beyond watches, chocolate and pocket knives, Switzerland is best known as a financial center…
Tonnes: 1,040.1
% of reserves: 17.8%
#5: China
[Although China is] the world’s most populous nation…[its] gold holdings are only 1.6% of its total reserves…[given the fact that] it has more than $3 trillion in U.S. dollars in its reserve.
Tonnes: 1,054.1
% of reserves: 1.6%
#4: France
The French National Bank, Banque De France, is home to the country’s gold holdings…
Tonnes: 2,435.4
% of reserves: 66.2%
#3: Italy
Italy is the only top 10 country to also make the prestigious “PIIGS” list of Eurozone countries with sovereign debt problems (Portugal, Italy, Ireland, Greece and Spain), although Portugal just missed the list at number 12…
Tonnes: 2,451.8
% of reserves: 71.2%
#2: Germany
The largest economy in the Eurozone also has the largest reserve of gold…
Tonnes: 3,401.0
% of reserves: 71.4%
#1: United States
The United States holds nearly 30% of the 27,372.6 tonnes of gold in all sovereign reserves. Although Fort Knox is the iconic location of U.S. gold, more gold actually is stored in the Federal Reserve Bank of New York’s underground vault, although not all of it belongs to the U.S. government…
Tonnes: 8,133.5
% of reserves: 74.2%

Nifty short term out look 6th Jan 2012

Black Friday :: Wait for Blood Bath In Nifty Today ,,, just wait and watch tgt 4620 - 4560 can be tested today.. CMP is 4730 resitance 4765
Nifty will test 4200 this expiryy...


SBIN Sel @ 1667 stop @ 1680 tgt 1640 - 1610 wait for 3 - 4 days

LT sell @ 1072 tgt 1060 - 1040 - 1010 stop @ 1090 hold for few days,,

Reliance Sell @ 702 stop @ 708 tgt 685 - 670 - 650

rest will follow by same percentage..

Nifty & Rupee Overview for 6th Jan 2011

Nifty: Nifty yesterday after the positive opening at the level of 4761 tested the higher level of 4790 but failed to hold the higher level and in the later part of trading session it traded negative where the low was tested at 4738 and closing was seen negative at 4750 level similar to the previous trading session move. Today as the Asian market trading negative we expect flat opening in Nifty too, where on higher side 4800 is the immediate resistance level which is 40 DMA and if fails to trade above the same selling may continue from the higher level where as on lower side 4720 is the support and today’s trading range will be 4820 to 4660 level and selling is advise at higher level. On lower side if sustain trading is seen below 4750 will open the door for 4680 to 4620 immediately, where as further 4200 can be expected in near term, whereas on higher side resistance is seen at 4850 on closing basis. It’s not expected to cross the higher resistance of 4850 and till the time its holding the same selling at rise is advisable, where in medium term 4350 is the target which is 100% expansion of a - b from point c and can also test 3900 which comes to 161.8% in medium term. Stochastic are trading in the mid zone and if the resistance is holding selling may be seen at higher level.


USD/INR: Rupee last trading session closing was seen at 53.20 and on higher side 53.25 was the resistance taken and was trading negative as some buying pressure is seen at the level of 52 around. Today opening was seen flat around 53.2 per$ where some negative move is expected where on lower side support is seen at 53 per$ and on higher side immediate resistance is seen at 53.55 per$ where till the time support of 53 holds buying at dips is advise around 53.05 per$ and will test 53.25 and above 53.5 per$ will further move to 54 in near term. In short term trading range bound to upside move is expected where it will move slowly to test 54 again and 54.5 in medium terms and long term target of 58 cannot be denied where buying at dips is advice in medium term for positional traders. Stochastic which has given positive intersection near lower zone which indicates price will move side way to upside and higher target can be tested soon.