Correct Pointy - in typical CB fashion, they sold at the bottom!!! Just to add a bit more...Canada invested in "interested bearing assets"... no doubt meaning Govt Bonds.
If you take an average return of 2.5%pa (for 10yr bonds) over that period they would have made approx $2,323,200.
If they had left their gold in their vaults - it would now be worth $34,848,000...an approx 50% return - or 10.67% per annum over the same period.
This is one reason why the gold is moving from West to East...they understand it better!!
I wonder why the US hasn't sold any of theirs....yet!! I expect China will take it off their hands for a fraction of their US dollar reserves.
