gold at us$3400 an ounce, page-5

Hi Bruce,

I took my figures from the World Gold Council, at the following link:
http://www.gold.org/value/stats/statistics/archive/index.php

The same July report quoted Canada's gold holdings at 13.1 tonnes (or 421,000 ounces). This equated to 0.4% gold backing as a percentage of foreign reserves held. Not quite the same as your 200,000 ounces, but not that far off.

The figures quoted at the link were sourced from the IMF's International Financial Statistics and are published 2 months in arrears, meaning that the July position for Canada and the United States was actually the position stated as at May 2003 (or earlier).

The actual gold holdings, for those interested were stated as follows:

World Official Gold Holdings (July 2003*)
Ranking Country Tonnes Gold’s % share of reserves**
1 United States 8,134.7 57.0%
2 Germany 3,443.0 43.2%
3 IMF 3,217.0 (1)
4 France 3,024.8 55.2%
5 Italy 2,451.8 45.8%
6 Switzerland 2 1,781.4 33.0%
7 Netherlands 842.5 48.5%
8 ECB 766.9 (1)
9 Japan 765.1 1.7%
10 China: Mainland 600.0 2.1%
11 Spain 523.4 15.4%
12 Portugal 517.2 41.2%
13 Taiwan3 422.1 2.8%
14 Russia4 387.5 7.3%
15 India 357.7 5.4%
16 Venezuela 4 339.6 27.8%
17 Austria 317.6 28.4%
18 United Kingdom 313.2 8.8%
19 Lebanon 286.8 23.8%
20 Philippines 275.5 19.2%
21 Belgium 257.8 22.2%
22 BIS 192.0 (1)
23 Sweden 185.4 10.4%
24 Algeria 173.6 7.0%
25 Libya 143.8 9.3%
26 Saudi Arabia 143.0 6.5%
27 Singapore5 127.4 1.7%
28 South Africa6 123.8 16.1%
29 Greece 122.2 24.6%
30 Turkey 116.1 4.6%
31 Romania 105.3 14.0%
32 Poland 102.9 3.8%
33 Indonesia 96.5 3.2%
34 Australia 79.6 3.9%
35 Kuwait 79.0 9.2%
36 Thailand 78.4 2.3%
37 Egypt 75.6 6.1%
38 Denmark 66.6 2.5%
39 Pakistan 65.1 7.1%
40 Kazakhstan 52.7 14.6%
Tonnes Gold’s %
share of
reserves**
41 Finland 49.0 5.5%
42 Bulgaria 39.9 8.5%
43 Norway 36.8 2.0%
44 WAEMU7 36.5 6.9%
45 Malaysia 36.4 1.2%
46 Slovak Republic 35.1 4.1%
47 Peru 34.7 3.7%
48 Bolivia 28.3 36.5%
49 Ecuador 26.3 26.0%
50 Syrian Arab Rep. 25.9 (1)
51 Morocco 22.0 2.3%
52 Nigeria 21.4 3.2%
53 Ukraine 15.8 3.7%
54 Cyprus 14.5 5.6%
55 El Salvador 14.4 8.8%
56 Korea 13.9 0.1%
57 Brazil 13.8 0.4%
58 Czech Republic 13.7 0.6%
59 Neths. Antilles 13.1 26.7%
60 Canada 13.1 0.4%
61 Jordan 12.8 3.4%
62 Cambodia 12.4 15.5%
63 Utd Arab Emirates 12.3 0.9%
64 Colombia 10.2 1.1%
65 Ghana 8.7 16.1%
66 Latvia 7.7 6.8%
67 Ethiopia 7.7 8.8%
68 Slovenia 7.6 1.2%
69 Myanmar 7.2 14.5%
70 CEMAC 8 7.2 4.7%
71 Guatemala 6.8 3.1%
72 Tunisia 6.8 2.8%
73 Mexico 6.4 0.1%
74 Macedonia, FYR 6.2 9.4%
75 Lithuania 5.8 2.5%
76 Ireland 5.5 1.7%
77 Nepal 4.8 4.7%
78 Bahrain 4.7 3.0%
79 Zimbabwe 4.4 36.8%
80 Bangladesh 3.5 2.2%
81 Hungary 3.1 0.3%
82 Aruba 3.1 9.2%
83 Mongolia 2.9 10.4%
84 Kyrgyz Republic 2.6 8.8%
85 Luxembourg 2.4 14.0%
86 Albania 2.2 2.7%
87 Hong Kong 2.1 0.0%
88 Iceland 2.0 4.3%
89 Papua New Guinea 2.0 6.6%
90 Sri Lanka 1.9 1.3%
91 Mauritius 1.9 1.6%
92 Trinidad & Tobago 1.9 1.1%
93 Yemen, Republic 1.6 0.4%
94 Armenia 1.4 3.5%
95 Paraguay 1.1 1.7%
96 Cameroon 0.9 1.6%
97 Honduras 0.7 0.5%
98 Suriname 0.7 6.5%
99 Qatar 0.6 0.4%
100 Dominican Rep. 0.6 1.2%
101 Malawi 0.4 2.6%
102 Gabon 0.4 2.4%
103 Mauritania 0.4 1.0%
104 Cent. African Rep. 0.3 3.0%
105 Chad 0.3 1.9%
106 Congo, Rep. Of 0.3 6.2%
107 Argentina 0.3 0.0%
108 Uruguay 0.3 0.4%
109 Estonia 0.2 0.3%
110 Chile 0.2 0.0%
111 Costa Rica 0.1 0.0%
112 Haiti 0.0 0.8%
113 Burundi 0.0 0.6%
114 Fiji 0.0 0.1%